Question: Geiger Co. bought an asset that had a 4 year life for $100,000. At the end of the 2nd year, Geiger Co. sold it for

Geiger Co. bought an asset that had a 4 year life for $100,000. At the end of the 2nd year, Geiger Co. sold it for $60,000. This resulted in a gain of $5,000. If the company used straight-line depreciation, what was the accumulated depreciation for this asset?

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