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What is the gain that Frank should report on the sale

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Question - Frank Company sold a machine for $115,000. The company bought this machine for $175,000 five years ago and was depreciating it on a straight-line basis over 12 years to a $25,000 salvage value.

What is the gain (loss) that Frank should report on the sale? Indicate a gain as a positive value and a loss as a negative value.

Reference no: EM132607838

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