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Question(s) / Instruction(s):

A company sold a machine that originally cost $100,000 for $60,000 cash. The accumulated depreciation on the machine was $40,000. The company should recognize a:

a)            $0 gain or loss.

b)            $20,000 gain.

c)            $20,000 loss.

d)            $40,000 loss.

e)            $60,000 gain.

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