Bryce sells a piece of equipment used in his business for $100,000. He had purchased the equipment 2 years ago for $80,
Posted: Sun Jul 03, 2022 3:56 pm
Bryce sells a piece of equipment used in his business for$100,000. He had purchased the equipment 2 years ago for$80,000 and had accumulated depreciation of $30,000 prior to thesale. This was the only business property sold by Bryceduring the year. How much capital gain does Brycerecognize on the sale?
$20,000
None of the other answers is correct
$30,000
$20,000
None of the other answers is correct
$30,000