laurindalara laurindalara

08-07-2024
Mathematics

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Butte sold a machine to a machine dealer for $51,500. Butte bought the machine for $53,500 several years ago and has claimed $11,750 of depreciation expense on the machine. What is the amount and character of Butte's gain or loss? Multiple Choice $9,750, §1231 loss $2,000, §1231 loss $9,750, ordinary gain $9,750, capital gain None of the choices are correct.

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