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Bennie sold equipment for $150,000. The equipment was purchased for $175,000 and had accumulated depreciation...

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Accounting

  1. Bennie sold equipment for $150,000. The equipment was purchased for $175,000 and had accumulated depreciation of $75,000. What amount is reported as ordinary income under Code Sec. 1245?

  1. $100,000

  1. $40,000

  1. $50,000

  1. $75,000

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