Butte sold a machine to a machine dealer for 50000 butte

Reference no: EM13594251

Butte sold a machine to a machine dealer for $50,000. Butte bought the machine for $55,000 several year ago and has a claimed $12,5000 of depreciation expense on the machine. What is the amount and character of Butte's gain or loss?

Reference no: EM13594251

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