Brighton depreciates oil rigs straight line over 10 years


Brighton Corp. bought an oil rig exactly 6 years ago for $105,000,000. Brighton depreciates oil rigs straight line over 10 years assuming no salvage value. The rig was just sold to British Petroleum for $25,000,000. What Capital Gain/Loss will Brighton report on this transaction?

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Finance Basics: Brighton depreciates oil rigs straight line over 10 years
Reference No:- TGS0600795

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