Question: Crane Company purchased a new machine on May 1, 2012 for 5555600. At the time of acquisition, the machine was estimated to have a useful

Crane Company purchased a new machine on May 1, 2012 for 5555600. At the time of acquisition, the machine was estimated to have a useful life of ten years and an estimated salvage value of $28800. The company has recorded monthly depreciation using the straight-line method. On March 1, 2021. the machine was sold for $78600 What should be the loss recognized from the sale of the machine? $28800 $0. $11660 $40460

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