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What is the amount of the loss to be reported

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Question - D sold a depreciable asset for $60,000. It was the only asset in the capital cost allowance class. The undepreciated capital cost was $64,000 at the time of the sale. The asset cost $80,000 when it was purchased. What is the amount of the loss to be reported in net income for tax purposes?

Reference no: EM132725932

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