E9.12 (LO 3) Presented below are selected transactions at Ingles Company for 2020. Jan. 1 Retired a piece of machinery that was purchased on January 1, 2010. The machine cost 58,000 on that date. It had a useful life of 10 years with no residual value. June 30 Sold a computer that was purchased on January 1, 2017. The computer cost 40,000. It had a useful life of 5 years with no residual value. The computer was sold for 14,600. Dec. 31 Discarded a delivery truck that was purchased on January 1, 2016. The truck cost 34,000. It was depreciated based on a 6-year useful life with a 4,000 residual value