4 5 6 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 3 A company purchased equipment for $240,000 on March 1, 2021. The estimated service life is six years with a $60,000 residual value. Depreciation expense for the year ended December 31, 2021, using straight-line depreciation, is: A) $33,333 B) $40,000 C) $30,000. D) $25,000 Select one: on 7 Equipment was sold for $60,000. The equipment was originally purchased for $85.000. At the time of the sale, the equipment had accumulated depreciation of $30,000. Calculate the gain or loon to be recorded on the sale of equipment 888 00 Dil DD FO FS F6 F1 F7 FB 19 A * $ 4 % 5 6 & 7 8 9 0