Based on the following information, you are required to answer the following two questions: Costs on Acquisition on 1 February 2019: Machine Cost Import Tax Delivery Fees Annual Maintenance Fees $25,000 $2,000 $3,000 $2,000 Depreciation Method: Straight-line method Residual value: $6,000 Useful Life: 4 Years What is the balance of accumulated depreciation on 31 December 2020? Select one: O a. $12,000 O b. $10,800 O c. $10,450 d. $11,500 What is the profit or loss on disposal, if the machine is sold for $13,000 on 31 December 2021? Select one: a. Loss of $1,000 O b. Profit of $1,000 O c. Profit of $500 d. Loss of $500