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Pereira LLC owns equipment with a $250,000 adjusted basis which was purchased on 3/14/2015 for...

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Accounting

Pereira LLC owns equipment with a $250,000 adjusted basis which was purchased on 3/14/2015 for $435,000. Determine the amount and character of Pereira LLC's gain or loss if the equipment was sold on 4/1/2017 with proceeds of: (a) $375,000, (b) $525,000, (c) $220,000.

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