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Womba Company disposed of all of their Class 8 assets during the year. They had...

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Accounting

Womba Company disposed of all of their Class 8 assets during the year. They had not replaced them as of December 31, 2021. The Class 8 UCC balance on January 1, 2021 was $52,000. The assets cost $99,000 when they were originally purchased and the company was able to sell them for $59,000. What is the amount of the recapture (+) or terminal loss (-) in 2021?

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