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What was the selling price of the equipment

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Problem 1: Cash Company recently sold equipment and recognized a $1.4 million loss. The original cost of the equipment was $12 million and the accumulated depreciation on the date of sale was $8.4 million. What was the selling price of the equipment?

Option 1: $2.2 million.

Option 2: $3.6 million.

Option 3: $5.0 million.

Reference no: EM132636917

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