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Compute the gain or loss on the sale of the equiptment

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Reference no: EM132499716

Question 1: A piece of equiptment with a cost of $11,000, a useful life of 5 years, and a salvage value of $1,000 is depreciated using the straigh line method. On the first day of the fourth year, the equiptment is sold for $4,000. Using this information, compute the gain or loss on the sale of the equiptment.

Reference no: EM132499716

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