Way Corporation disposed of the following assets in the current year.AssetDate AcquiredDate SoldConventionOriginal BasisMachinery (7-year)8/5/205/13/22Mid-quarter$50,000Office...
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Accounting
Way Corporation disposed of the following assets in the current year.
| Asset | Date Acquired | Date Sold | Convention | Original Basis |
| Machinery (7-year) | 8/5/20 | 5/13/22 | Mid-quarter | $50,000 |
| Office building | 4/3/18 | 9/28/22 | Mid-month | $310,000 |
*Ignore Section 179 expense and bonus depreciation for this problem. Round your answer to the nearest whole dollar.
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