Ngu owns equipment that cost $94,700 with accumulated depreciation of $64,800. Ngu asks $35,300 for the equipment but sells the equipment for $33,200. Compute the amount of gain or loss on the sale.
A. $3300 gain.
B. $5400 gain.
C. $3300 loss.
D. $2100 gain.
E. $5400 loss.
Answer: A
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