1-On May 1, 2014, Pinkley Company sells office furniture for 60,000 cash. The office furniture originally cost 150,000 when purchased on January 1, 2007. Depreciation is recorded by the straight-line method over 10 years with a residual value of 15,000. What gain should be recognized on the sale? a. 4,500. b. 9,000. c. 9,500. d. 18,000