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24-05-2023
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Manong Jose buys a draft carabao for his farming needs 15,000. During the enrollment period, he sold it for 16,000 to finance the tuition fee of his daughter, a college student.
During the succeeding cropping season, he bought the same carabao for 17,000. After her graduation, he sold it for 18,000 to finance her daughter's CPA review in Davao City.
Did Manong Jose gain or lose? Why and why not? Explain.

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