$14$

$!$

Required information

Part $3$ of $4$

$[$The following information applies to the questions displayed below.$]$

New Deli is in the process of closing its operations. It sold its three$-$year$-$old ovens to Sicily Pizza for $$279,500.$ The ovens originally cost $$372,500,$ had an estimated service life of $10$ years, had an estimated residual value of $$22,500,$ and were depreciated using straight$-$line depreciation. Complete the requirements below for New Deli.

$03$:$27$:$47$

$3.$ What is the gain or loss on the sale of the ovens at the end of the third year?

References

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