Multiple Choice
Greg sold some equipment for $72,510 on June 13,2016.Greg had originally purchased the equipment for $86,750 on November 21,2015.The equipment was subject to depreciation of $17,350.What gain or loss will Greg recognize on the sale?
A) $3,110 ordinary gain.
B) $8,250 capital loss.
C) $3,110 capital gain.
D) $8,250 ordinary loss.
Correct Answer:
Verified
Correct Answer:
Verified
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