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Touch Tronix Company has a piece of manufacturing equipment that has become obsolete. On December 21, 2017, the company discards the equipment which has a

Touch Tronix Company has a piece of manufacturing equipment that has become obsolete. On December 21, 2017, the company discards the equipment which has a historical cost of $600,000 and accumulated depreciation of $530,000. What is the net impact on the long-term assets of Touch Tronix Company on its December 31, 2017 statement of financial position?

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