Bobby Jenks Company Purchased Machinery for $160,000 on January 1

Multiple Choice

Bobby Jenks Company purchased machinery for $160,000 on January 1, 2004.Straight-line depreciation has been recorded based on a $10,000 salvage value and a 5-year useful life.The machinery was sold on May 1, 2008 at a gain of $3,000.How much cash did Bobby Jenks receive from the sale of the machinery?

A) $23,000
B) $27,000
C) $33,000
D) $43,000