Sweetpea Corporation sold a tiller that it used in its landscaping business. The tiller cost $5,000...

 

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Sweetpea Corporation sold a tiller that it used in its landscaping business. The tiller cost $5,000 and Sweetpea had taken $2,000 of depreciation deductions up to the time of sale. The corporation sold the tiller for $4,000 two years after it was purchased. What is Sweetpea's gain or loss? Sweetpea Corporation sold a tiller that it used in its landscaping business. The tiller cost $5,000 and Sweetpea had taken $2,000 of depreciation deductions up to the time of sale. The corporation sold the tiller for $4,000 two years after it was purchased. What is Sweetpea's gain or loss?

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