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Business, 11.05.2021 01:00 Isabelcastillox1085

Several years ago, Nipher paid $70,000 to purchase equipment to use in its business. This year, it sold the equipment for $76,500. Accumulated MACRS depreciation through date of sale was $18,000. Determine the amount and character of Nipher's gain recognized. Group of answer choices $18,000 ordinary gain and $6,500 Section 1231 gain $24,500 Section 1231 gain $18,000 ordinary gain and $6,500 capital gain $24,500 ordinary gain

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Several years ago, Nipher paid $70,000 to purchase equipment to use in its business. This year, it s...

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