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Calculate Sheridan recognize gain

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Question - On January 1, 2009, Sheridan Company purchased for $750000, equipment having a useful life of ten years and an estimated salvage value of $46800. Sheridan has recorded monthly depreciation of the equipment on the straight-line method. On December 31, 2017, the equipment was sold for $117500. As a result of this sale, calculate Sheridan recognize gain?

a) $47180.

b) $380.

c) $0.

d) $117500.

Reference no: EM132592328

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