Question: Butte sold a machine to a machine dealer for $ 5 1 , 0 0 0 . Butte bought the machine for $ 5 4

Butte sold a machine to a machine dealer for $51,000. Butte bought the machine for $54,000 several years ago and has claimed $12,000 of depreciation expense on the machine. What is the amount and character of Butte's gain or loss?

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