Multiple Choice
A task station that originally cost $8,000 has no estimated salvage value and was depreciated at the rate of 20% per year (straight-line depreciation) . At the end of the second year, it was sold for $4,000 cash. The transaction would result in a:
A) loss of $400.
B) gain of $400.
C) loss of $800.
D) gain of $800.
Correct Answer:
Verified
Correct Answer:
Verified
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