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Sheena Maskell Sheena Maskell
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7 years ago
Natalie sold a machine for $140,000. The machine originally cost $95,000 and $15,000 of MACRS depreciation had been allowable. The buyer assumed a lien of $40,000, paid $30,000 cash down and agreed to pay $10,000 per year for seven years plus interest. Selling expenses are $10,000. What is the amount of gain to be reported in the year of sale?
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Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
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MsLippyMsLippy
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Sheena M. Author
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#2
7 years ago
I took a chance with your answer

It was right
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