Multiple Choice
A personal computer that originally cost $5,000 has no estimated salvage value and was depreciated at the rate of 20% a year. At the end of the third year, the computer was sold for $1,500 cash. The transaction would result in a
A) gain of $1,500.
B) loss of $1,500.
C) gain of $250.
D) loss of $250.
Correct Answer:
Verified
Correct Answer:
Verified
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