Multiple Choice
Joan bought a business machine for $15,000.In a later year,she sold the machine for $12,800 when the total allowable depreciation is $8,500.The depreciation actually taken on the tax returns totaled $8,000.Joan must recognize a gain (or loss) of
A) no gain or loss.
B) ($3,200) .
C) $6,800.
D) $6,300.
Correct Answer:
Verified
Correct Answer:
Verified
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