Tara purchased a machine for $40,000 to be used in her business.The cost recovery allowed and allowable for the three years the machine was used are as follows: If Tara sells the machine after three years for $15,000,how much gain should she recognize?

Question

Tara purchased a machine for $40,000 to be used in her business.The cost recovery allowed and allowable for the three years the machine was used are as follows:  If Tara sells the machine after three years for $15,000,how much gain should she recognize?

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The Answer of Tara purchased a machine for $40,000 to be used in her business.The cost recovery allowed and allowable for the three years the machine was used are as follows:  If Tara sells the machine after three years for $15,000,how much gain should she recognize?

Tara Purchased a Machine for $40,000 to Be Used in Her