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Question(s) / Instruction(s):

A company had a bulldozer destroyed by fire. The bulldozer originally cost $105,000. The accumulated depreciation on it was $52,000. The proceeds from the insurance company were $80,000. The company should recognize:
A.   A gain of $27,000
B.   A loss of $27,000
C.   A gain of $80,000
D.   A gain of $52,000
E.   A loss of $52,000

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