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  3. 48. on january 1, 2016, keller company purchased a

48. On January 1, 2016, Keller Company purchased a machine for $175,000. It had a...

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Accounting

48. On January 1, 2016, Keller Company purchased a machine for $175,000. It had a $25,000 salvage value and a 10-year useful life. Assuming that Keller uses the double-declining balance method, and Keller sells the asset for $95,000 on December 31, 2018, what gain or loss would Keller recognize on the sale of the asset?

$1,000 loss

$17,000 loss

$5,400 gain

$18,200 gain

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