Frederique sold furniture that she uses in her business for $15,600. Frederique bought the furniture a few years ago for $39,880 and has claimed $20,120 of depreciation expense. What is the amount and character of Frederique's gain or loss?

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The Answer of Frederique sold furniture that she uses in her business for $15,600. Frederique bought the furniture a few years ago for $39,880 and has claimed $20,120 of depreciation expense. What is the amount and character of Frederique's gain or loss?

Frederique Sold Furniture That She Uses in Her Business for $15,600