Lets now assume that Teton sells the machinery for $160,000. If the original basis was...
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Accounting
Lets now assume that Teton sells the machinery for $160,000. If the original basis was $710,000 and the accumulated depreciation was $450,000, What is the amount of the gain or loss Teton would recognize on this sale?
| A | $100,000 long-term capital loss | |
| B | $100,000 ordinary loss | |
| C | $550,000 ordinary loss | |
| D | $550,000 long-term capital loss |
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