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How to calculate the gain or loss on disposal

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Reference no: EM132578851

A company purchased an asset on 1 January 2013 at a cost of $1,000,000. It is depreciated over 25 years by the straight line method (nil residual value), on a straight line basis. The asset was sold on 30 June 2021 for $750,000.

Question 1: Calculate the gain or loss on disposal.

Reference no: EM132578851

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