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Business, 24.07.2019 20:10 Ezekielcassese

An asset was purchased for $36,000 on january 1, 2016. the asset's estimated useful life was five years, and its residual value was $4,000. the straight-line method of depreciation was used. calculate the gain or loss if the asset is sold for $18,000 on december 31, 2016, the last day of the accounting period.

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