The Chisholm Company Purchased a Machine on November 1,2005,for $148,000

Multiple Choice

The Chisholm Company purchased a machine on November 1,2005,for $148,000.At the time of acquisition,the machine was estimated to have a useful life of ten years and an estimated salvage value of $4,000.Chisholm has recorded monthly depreciation using the straight-line method.On July 1,2014,the machine was sold for $13,000.What should be the loss recognized from the sale of the machine?

A) $4,000
B) $5,000
C) $10,200
D) $13,000