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Strawberry Fields purchased a tractor at a cost of $ 5 4 , 0 0 0 and sold it two years later for $ 2

Strawberry Fields purchased a tractor at a cost of $54,000 and
sold it two years later for $27,000. Strawberry Fields recorded
depreciation using the straight-line method, a five-year service
life, and an $8,000 residual value. What was the gain or loss on
the sale?

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