Multiple Choice
B&V Enterprises exchanged a used crane with an original cost of $200,000 and accumulated depreciation of $140,000 for a truck with a fair market value of $100,000.B&V also paid cash of $25,000.What amount of gain should B&V report on this transaction?
A) $0
B) $15,000
C) $40,000
D) $100,000
Correct Answer:
Verified
Correct Answer:
Verified
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