On December 31,2013,Stable Company Sold a Piece of Equipment That

Multiple Choice

On December 31,2013,Stable Company sold a piece of equipment that was purchased on January 1,2009.The equipment originally cost $820,000 and has an estimated useful life of eight years.Stable uses the double-declining-balance method of depreciation.What is the gain/loss on the sale of equipment that Stable will recognize if the equipment was sold for $230,000?

A) $35,409.50 gain
B) $25,000.00 loss
C) $25,000.00 gain
D) $35,408.00 loss
E) $0; no gain or loss