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Business, 25.10.2019 19:43 ShayMoore

On january 1, 2017, sandhill corporation sold a building that cost $258,210 and that had accumulated depreciation of $105,500 on the date of sale. sandhill received as consideration a $248,210 non-interest-bearing note due on january 1, 2020. there was no established exchange price for the building, and the note had no ready market. the prevailing rate of interest for a note of this type on january 1, 2017, was 9%. at what amount should the gain from the sale of the building be reported? (round factor values to 5 decimal places, e. g. 1.25124 and final answer to 0 decimal places, e. g. 458,581.)

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On january 1, 2017, sandhill corporation sold a building that cost $258,210 and that had accumulated...
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