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What is the gain-loss from this disposal

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Question - Boilermaker Co. purchased a machine at $5,000 on January 1, 2011. The estimated useful life was 7 years and the salvage value was $100. On July 1, 2013, Boilermaker sold this machine at $3,500. What is the gain/loss from this disposal?

a. $500 loss

b. $250 gain

c. no gain/loss

d. $500 gain

Reference no: EM133055608

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