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Tara Purchased a Machine for $40,000 to Be Used in Her

Question 10

Multiple Choice

Tara purchased a machine for $40,000 to be used in her business.The cost recovery allowed and allowable for the three years the machine was used are as follows: Tara purchased a machine for $40,000 to be used in her business.The cost recovery allowed and allowable for the three years the machine was used are as follows: If Tara sells the machine after three years for $15,000,how much gain should she recognize? A) $3,480 B) $6,360 C) $9,240 D) $11,480 E) None of these If Tara sells the machine after three years for $15,000,how much gain should she recognize?


A) $3,480
B) $6,360
C) $9,240
D) $11,480
E) None of these

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