2. Which of the following statements best describes the accounting treatment for the cost of the fire equipment? c. Since the cost of the fire equipment was less than $100,000, the cost should be capitalized. d. Since the cost of the fire equipment could be considered maintenance, and they know exactly when they will sell it, the cost should be expensed. 3. What amount of gain or loss did Wagner record when it sold the building? What amount of gain or loss would have been reported if the fire protection equipment had been expensed in 2017