On December 31,2010,Hamilton Inc.sold a used industrial crane for $600,000 cash.The original cost of the crane was $5.0 million and its accumulated depreciation equaled $4.2 million on December 31,2010.What is the gain or loss from the December 31,2010 equipment sale?
A) $800,000 gain
B) $800,000 loss
C) $200,000 loss
D) $200,000 gain
Correct Answer:
Verified
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