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Compute result of exchange

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Reference no: EM132964262

Problem - Company constructed equipment to be used in operations. Actual payments were 80000 JD. Actual interest was 3300 JD and avoidable interest was 3400 JD. The estimated useful life was 10 years and uses SLN for depreciation. After 4 years the company exchange its equipment for similar one. The fair value of old equipment is 48400 JD and paid 2000 cash, Compute result of exchange (has commercial substance).

Reference no: EM132964262

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