Question: Select the best answer. On October 1 , 2 0 2 4 , a corporation sold machinery for a gain of $ 5 0 ,
Select the best answer.
On October a corporation sold machinery for a gain of $ The machinery was purchased ten months ago on December and is considered held shortterm. In and straightline depreciation of $ had been deducted. The corporation will recognize which of the following?
A Ordinary income of $ and gain of $
B Ordinary income of $ and gain of $
C Ordinary income of $
D gain of $
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