ABC, Inc. has decided to dispose of a useless equipment that was acquired 5 years ago. Cash is not expected to be received or paid to dispose of the asset. The useful life of the equipment was originally estimated at 7 years. When disposing of the equipment, ABC must Select one: to. eliminate depreciation expense from previous years. b. debit the retained earnings account for the asset's book value. C. recognize a disposal loss equal to the carrying amount of the equipment. d. continue to depreciate the equipment for the remaining useful life according to the original estimate