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On December 31, 2019, Hamilton Inc. sold a used industrial crane for $660,000 cash. The...

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Accounting

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On December 31, 2019, Hamilton Inc. sold a used industrial crane for $660,000 cash. The original cost of the crane was $5.08 million and its accumulated depreciation equaled $4.24 million on December 31, 2019. What is the gain or loss from the December 31, 2019 equipment sale? Multiple Choice $840,000 gain $840,000 loss $180,000 loss d $180,000 gain

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