E7-44 (Learning Objective 4: Determining the sale price of property and equipment) Wilson Corporation reported...
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E7-44 (Learning Objective 4: Determining the sale price of property and equipment) Wilson Corporation reported the following for property and equipment (in millions, adapted): Year End 20x7 20x6 Property and equipment Accumulated depreciation $24,073$22.011 (13.306) (12,087) During 20X7, Wilson paid $2,510 mil lion for new property and equipment. Depreciation for the year totaled $1,546 million. During 20x7, Wilson sold propenty and equipment for cash of S48 million. How much was Wilson's gain or loss on the sale of property and equipment durino 20x77
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