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A company purchased equipment for 120,000. The company estimates a useful life of 4 years and...

A company purchased equipment for 120,000. The company estimates a useful life of 4 years and a residual value of $0. The company depreciates the equipment using the straight-line method and sold the equipment at the end of the 3rd year of use. What will the company record if the equipment is sold for 25,000?
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