A machine was purchased for $100,000 in 2011 and used for four years,during which $40,000 of depreciation accumulated.The machine was then sold for $60,000 cash.What is the gain or loss on this transaction? Assume depreciation is up to date at the time of the sale.

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The Answer of A machine was purchased for $100,000 in 2011 and used for four years,during which $40,000 of depreciation accumulated.The machine was then sold for $60,000 cash.What is the gain or loss on this transaction? Assume depreciation is up to date at the time of the sale.

A Machine Was Purchased for $100,000 in 2011 and Used