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Ulices sold a machine to a machine dealer for $50,800. Ulices bought the machine for $54,200 several years ago and has claimed $12,100 of depreciation

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Ulices sold a machine to a machine dealer for $50,800. Ulices bought the machine for $54,200 several years ago and has claimed $12,100 of depreciation expense on the machine. What is the amount and character of Ulices's gain or loss? O $8,700, $1231 loss. O $8,700, 51231 gain. $8,700, Ordinary income. $3,400, 51231 loss

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