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Required information

Exercise $16-32$ Gain or Loss on Disposal $($Section $2)($LO $16-4)$

$[$The following information applies to the questions displayed below.$]$

In December of $204,$ Atlas Chemical Corporation sold a forklift for $$9,255.$ The machine was purchased in $201$ for $$50,000.$ Since then $$38,845$ in depreciation has been recorded on the forklift.

Exercise $16-32$ Part $2$

$2.$ Compute the gain or loss on the sale.

on sale