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Ecker Company purchased a new machine on May 1, 2004 for $264,000. At the time of acquisition, the machine was estimated to have a useful life of ten years and as estimated salvage value of $12,000. The company has recorded monthly depreciation using the straight-line method. On March 1, 2013, the machine was sold for $36,000. What should be the loss recognized from the sale of the machine?

A) $12,000

B) $5,400

C) $17,400

D) $0

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M964435

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