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Gorham Company Has Equipment with an Original Cost of $250,000

Question 69

Multiple Choice

Gorham Company has equipment with an original cost of $250,000 and accumulated depreciation of $140,000.If the equipment was sold it would generate a $15,000 Gain.What is the current fair value of the equipment?


A) $150,000
B) $110,000
C) $140,000
D) $125,000

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