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Chen Corp. purchased a machine exactly six years ago. The machine cost $50,000 and Chen...

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Accounting

Chen Corp. purchased a machine exactly six years ago. The machine cost $50,000 and Chen estimated a residual value of $4,000 and a useful life of 10 years. (Six full years have passed.) Today Chen sold the machine and recognized a $100 gain. Chen uses the straight-line method for depreciation.

What was the selling price for the machine?

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