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What amount and character of gain will you recognize

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Question - Five years ago you bought a widget-making machine for $1M. After all of the wonderful MACRS depreciation deductions, your adjusted basis in the machine was exactly $200,000 when you sold it today for $1,150,000 (its value had in-creased, notwithstanding its age, because of supply chain disruptions). What amount and character of gain will you recognize on today's sale?

Reference no: EM133031062

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