A fixed asset with a cost of $41,000 and accumulated depreciation of $36,500 is traded for a similar asset priced at$60,000 . Assuming a trade-in allowance of $3,000, the recognized loss on the trade is

a. $3,000
b. $4,500
c. $500
d. $1,500


d

Business

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What will be an ideal response?

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