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Business, 29.11.2019 01:31 cobbiegirl8996

Alpha sold machinery that it used in its business to beta, a related entity, for $40,000. beta used the machinery in its business. alpha bought the machinery a few years ago for $50,000 and has claimed $30,000 of depreciation expense. what is the amount and character of alpha's gain?

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Alpha sold machinery that it used in its business to beta, a related entity, for $40,000. beta used...

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