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Business, 06.04.2021 04:30 pchaneh9927

Renata Corporation purchased equipment in 2018 for $244,800 and has taken $110,160 of regular MACRS depreciation. Renata Corporation sells the equipment in 2020 for $146,880. What is the amount and character of Renata's gain or loss? Renata Corporation has a gain of $fill in the blank 1 of which $fill in the blank 2 is treated as ordinary income due to § 1245 recapture

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Renata Corporation purchased equipment in 2018 for $244,800 and has taken $110,160 of regular MACRS...
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