Joaquin purchased a $320,000 earthmover for a business. the earthmover was sold for $245,000 after taking $220,000 of depreciation. what is the nature and amount of the gain or loss on the sale?

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17-06-2024
Business

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Joaquin purchased a $320,000 earthmover for a business. the earthmover was sold for $245,000 after taking $220,000 of depreciation. what is the nature and amount of the gain or loss on the sale?

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