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Find the original cost of the asset

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Question - Sim Company sold a machine in 2018. The machine had accumulated depreciation of $50,000 and a salvage value of $6,000. If the machine is sold for $16,000 and a gain of $4,000 is recognized, find the original cost of the asset?

a. $54,000.

b. $62,000.

c. $66,000.

d. $70,000.

Reference no: EM132715644

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