On January 1, 2018, Frontier Corporation Purchased for $474,000, Equipment

Multiple Choice

On January 1, 2018, Frontier Corporation purchased for $474,000, equipment having a useful life of ten years and an estimated salvage value of $24,000. Adventure has recorded depreciation of the equipment on the straight-line method. On December 31, 2025, the equipment was sold for $84,000.
As a result of this sale, Frontier should recognize:

A) $-0-
B) A gain of $40,800
C) A loss of $30,000
D) A loss of $84,000