FedEx Corporation reported the following for property and equipment (in millions, adapted): During 20X6, FedEx paid $2,518

Question:

FedEx Corporation reported the following for property and equipment (in millions, adapted):

During 20X6, FedEx paid $2,518 million for new property and equipment. Depreciation for the year totaled $1,548 million. During 20X6, FedEx sold property and equipment for cash of $64 million. How much was FedEx's gain or loss on the sale of property and equipment during 20X6?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...