Business, 12.02.2021 03:40 orlando19882000

Sumner sold equipment that it uses in its business for $30,500. Sumner bought the equipment a few years ago for $79,750 and has claimed $39,875 of depreciation expense. Assuming that this is Sumner's only disposition during the year, what is the amount and character of Sumner's gain or loss

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Sumner sold equipment that it uses in its business for $30,500. Sumner bought the equipment a few ye...

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