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Bobbin Inc. and Needle Inc. each own 50% of Machine Inc. Bobbin also owns 100%...

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Accounting

Bobbin Inc. and Needle Inc. each own 50% of Machine Inc. Bobbin also owns 100% of Thread Inc. During the year, Machine sells a surplus delivery truck to Thread for $8,000. Similar trucks were selling for $10,000, and the truck had a book value of $6,000. Machine reports under ASPE. At what amount should Machine derecognize the truck? A $2,000 B $10,000 C $6,000 D $8,000

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