Determine the profit or loss on the sale of the machine

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Question - A trader purchase a machinery for $20000 in January 2016, depreciation is charged at 25% reducing balance. At the end of September 2019, it was sold for $4520. Determine the Profit or loss on the sale of the machine?

A. Profit $1808.125

B. Profit $3917.500

C. Loss $2335.468

D. Loss $6755.468

Reference no: EM133028332

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