When depreciable asset is sold at whatever market price

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Reference no: EM131084216

When a depreciable asset is sold at whatever market price it was able to be sold for, a tax gain or tax loss on disposal is calculated, based on the ________ of the asset at the time of disposal.

A. highest difference in book and market values

B. market value only

C. difference in market value and salvage value

D. book value only

Reference no: EM131084216

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