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Compute amount of gain-loss that buggy company would report

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Question - Buggy Company purchased equipment on January 1, 2020, for $200,000. The residual value is $20,000 and the estimated life is 8 years. Assuming the company uses the double-declining balance method to depreciate this asset, compute the amount of gain/loss that Buggy Company would report if they sold the equipment for $115,000 on December 31, 2021.

Reference no: EM133145423

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