An asset with a first cost of 240000 three years ago is, Business Economics

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An asset with a first cost of 240000 three years ago is

An asset with a first cost of $240,000 three years ago is sold for $285,000. The asset was depreciated by the MACRS method and has a book value of $69,120 at the time of sale. Determine the amount of the capital gain, if any, and the amount of the depreciation recapture, if any.

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Business Economics: An asset with a first cost of 240000 three years ago is

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Business Economics: An asset with a first cost of 240000 three years ago is

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