20 Not yet answered Marked out of 5.00 XYZ company purchased a new machine on July 1, 2021, at a cost of 50,000. The company estimated that the machine will have a residual value of 10,000. The machine is expected to be used for 10,000 working hours during its 5-year life. After 6 months, it has been used for 2500 hours and company decides to sell it for 55000. No depreciation has been recorded for the machine. If the company used double declining balance method instead of units-of-activity, the net book value would have been and the on disposal would have been Flag question 40000 gain 15000 55000 loss 10000