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QUESTION
Mettler Toledo Inc. sold a patent and equipment on July 15, 2018 to CoverMyMeds Inc. for $880,000 and $390,000, respectively.
Mettler Toledo Inc. sold a patent and equipment on July 15, 2018 to CoverMyMeds Inc. for $880,000 and $390,000, respectively. The book value of the patent and equipment on the date of sale were $185,000 and $478,000 (cost of $693,000 less accumulated depreciation of $215,000), respectively.
