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What is the cash flow amount resulting from the sale

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Question - Lockspot Inc. purchased a machine for $125,000 on January 1, 2008. The estimated useful life was 10 years and the salvage value was $5,000. On January 1, 2016, Lockspot sells the machine, reporting a gain of $3,000.

Required -

a. What is the book value of the machine on the date of sale?

b. What is the cash flow amount resulting from the sale?

Reference no: EM133164468

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