attempt.php attempt 22271838 page 2 E Menu O Amber M QUESTION 3 Answer saved Marked out of 1.00 F Flag question ASSIGNMENT NAVIGATION Computing Depreciation, Asset Book Value, and Gain or Loss on Asset Sale Palepu Company owns and operates a delvery van that origaily cost $00.800. Straight line depreciation on the van has been recorded for three years, with a $3.000 expected salvage value at the end of its estimated six year useful Iife. Depreciation was last recorded at the end of the third year, at which time Palepu disposes of this van Finish attempt a. Compute the net book value of the van on the sale date. $ o b. Compute the gain or loss on sale of the van if its sales price is for (When applicable, use a negative sign with answers to indicate there is a loss on sale.) 1. Cash equal to book value of van. 2. $22,500 cash 3. $18,000 cash Finish attempt Previous page Save Answers ]G DOLL F9 F8 F7 F4 F5 8 8 7 9