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Ngu owns equipment that cost $109,700 with accumulated depreciation of $70,000. Ngu asks $37,550 for...

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Accounting

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Ngu owns equipment that cost $109,700 with accumulated depreciation of $70,000. Ngu asks $37,550 for the equipment but sells the equipment for $34,700. Compute the amount of gain or loss on the sale Multiple Choice $4,650 gain O $1,900 gun 54.650 loss $2.850 gain SU800 loss

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