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The Fortuna Co. purchased a computer on 1/1/07 for $10,000. Annual depreciation on the asset was $1,000 per year. In 2010, the asset was sold
The Fortuna Co. purchased a computer on 1/1/07 for $10,000. Annual depreciation on the asset was $1,000 per year. In 2010, the asset was sold for $5,000. Assume that the asset was sold on 10/1/10 instead of 1/1/10. What would be the gain or loss from the sale? A. Loss of $2,000 B. Gain of $1,700 C. Gain of $1,250 D. Loss of $1,250
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