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Question(s) / Instruction(s):

A fixed asset with a cost of $55,159.00 and accumulated depreciation of $46,885.15 is traded for a similar asset priced at $66,304.00. Assuming a trade-in allowance of $2,503.00, the recognized loss on the trade is

a)            $8,273.85            

b)            $5,770.85            

c)            $2,503.00            

d)            $19,418.85

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