8 2 points A company has a vehicle purchased for $100,000. The use the reducing balance method of depreciation at 20% a year. After two years the vehicle is sold for $70,000. Which of the following statements in correct The has been no profit or loss on the sale of the vehicle There is a profit on the sale of the vehicle of $6,000 There has been a profit on the sale of the vehicle of $10,000 There has been a loss on the sale of the vehicle of $30,000 OOOO Previous Next