Bennie Razor Company has decided to sell one of its old manufacturing machines on June 30, 2015

Subject:AccountingPrice:2.87 Bought7

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Bennie Razor Company has decided to sell one of its old manufacturing machines on June 30, 2015. The machine was purchased for $80,000 on January 1, 2011, and was depreciated on a straight-line basis for 10 years assuming no salvage value. If the machine was sold for $26,000, what was the amount of the gain or loss recorded at the time of the sale?

(a) $18,000

(b) $54,000

(C) $22,000.