Question: Power Industries donates an office building to the city of Houston. The building cost $ 5 0 0 , 0 0 0 , has accumulated

Power Industries donates an office building to the city of Houston. The building cost $500,000, has accumulated depreciation of $200,000, and has a fair value of $400,000. When recording this disposal, what amounts will be recorded as contribution expense and as gain or loss on disposal?

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