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Hauswirth Corporation sold (or exchanged) some manufacturing equipment in year 0. Hauswirth bought the machinery...

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Accounting

Hauswirth Corporation sold (or exchanged) some manufacturing equipment in year 0. Hauswirth bought the machinery several years ago for $84,500 and it has claimed $39,400 of depreciation expense against the equipment.

a.

Assuming that Hauswirth receives $58,200 in cash for the equipment, compute the amount and character of Hauswirth

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