Question: A personal computer that originally cost $5,000 has no estimated salvage value and was depreciated at the rate of 20% a year. At the end

A personal computer that originally cost $5,000 has no estimated salvage value and was depreciated at the rate of 20% a year. At the end of the third year, the computer was sold for $1,500 cash. The transaction would result in a loss or gain? Calculate the loss or gain for this sale.

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