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  3. a machine cost $1488000, has annual depreciation o

A machine cost $1488000, has annual depreciation of $248000, and has accumulated depreciation of $1178000...

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Accounting

A machine cost $1488000, has annual depreciation of $248000, and has accumulated depreciation of $1178000 on December 31,
On January 1,2026, when the machine has a fair value of $341000, it is exchanged for a machine with a fair value of $1674000
and the proper amount of cash is paid. The exchange had commercial substance.
The gain to be recorded on the exchange is
$62000
$186000
$0
$31000
image

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