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Swifty Company has decided to sell one of its old machines on June 30, 2021. The machine was purchased for $218000 on January 1 .

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Swifty Company has decided to sell one of its old machines on June 30, 2021. The machine was purchased for $218000 on January 1 . 2017 , and was depreciated on a straight-line basis for 10 years with no salvage value. If the machine was sold for $65000, what was the amount of the gain or loss recorded at the time of the sale? $153000.$131200.$59950.$54900

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