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Question - Entity A sells a machine that is classified as PPE for 1,700,000. Entity A pays the broker a 10% commission, Information on the machine is as follows:
Carrying amount 1,900,000
Revaluation surplus 400,000
How much is the gain (loss) from the sale?
a. (200,000)
b. (370,000)
c. 30,000
d. (30,000)
e. Answer not given
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