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A piece of equipment cost $32,400 and on which $18,000 of accumulated depreciation had been recorded was disposed on January 1 the first day of the...

A piece of equipment cost $32,400 and on which $18,000 of accumulated depreciation had been recorded was disposed on January 1 the first day of the current year. For each of the following assumptions compute the gain or loss on the disposal:
1. The equipment was discarded as having no value
2. The equipment was sold for $6,000 cash
3. The equipment was sold for $18,000

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