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  3. 14 ! required information part 3 of 4 [the foll

14 ! Required information Part 3 of 4 [The following information applies...

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Accounting

14
!
Required information
Part 3 of 4
[The following information applies to the questions displayed below.]
New Deli is in the process of closing its operations. It sold its three-year-old ovens to Sicily Pizza for $279,500. The ovens originally cost $372,500, had an estimated service life of 10 years, had an estimated residual value of $22,500, and were depreciated using straight-line depreciation. Complete the requirements below for New Deli.
03:27:47
3. What is the gain or loss on the sale of the ovens at the end of the third year?
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