1 2 3 Use dropdown... Select Answer: Select Answer: Select Answer: 4 Select Answer: 5 Select Answer: The book value of an asset is equal to the asset cost minus: A. Accumulated Depreciation B. Salvage Value C. the depreciation rate D. asset life Marnie Company purchased an truck for $42,000. The truck has a life of 9 years and salvage value of $6,000. The straight line depreciation would be how much per year? A. $4,667 B. $4,200 C. $2,100 D. $4,000 Marnie Company purcased an truck for $42,000. The truck has a life of 9 years and salvage value of $6,000. How much depreciation would be charged in year 1 under double declining balance depreciation? A. $4,667 B. 9,333 C. $2,100 D. $4,000 Limbo Manufacturing has a machine that cost $22,000. The accumulated depreciation is $17,000. The company sold the machine for $9,000. What was the gain or loss? A. Gain of $4,000 B. Loss of $4,000 C. No gain or loss D. Loss of $13,000 If Limbo Manufacturing sells a machine for cash, what type of cash flow will result? A. Operating cash flow B. Investing cash flow C. Financing cash flow D. Noncash investing and financing cash flow