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What the original cost of the asset is

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Problem 1: Sim Company sold a machine in 2018. The machine had accumulated depreciation of $50,000 and a salvage value of $6,000. If the machine is sold for $16,000 and a gain of $4,000 is recognized, the original cost of the asset is

a. $54,000.
b. $62,000.
c. $66,000.
d. $70,000.

Reference no: EM132665972

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