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Trump Incorporated purchased machinery for $270,000 on January 1, 2017. Straight-line depreciation has been recorded based on a $22,000 salvage value and a useful life

Trump Incorporated purchased machinery for $270,000 on January 1, 2017. Straight-line depreciation has been recorded based on a $22,000 salvage value and a useful life of 10 years. The machinery was sold on January 1, 2020 at a gain of $26,000. How much cash did Trump Incorporated receive from the sale of the machinery? $215,000 $169,600 $221,600 $296,000

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