Business, 19.02.2020 04:30 GoldenToad7449

Sumner sold equipment that it uses in its business for $30,800. Sumner bought the equipment a few years ago for $79,600 and has claimed $39,800 of depreciation expense. Assuming that this is Sumner's only disposition during the year, what is the amount and character of Sumner's gain or loss?

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Sumner sold equipment that it uses in its business for $30,800. Sumner bought the equipment a few ye...

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