Answer the following questions using the above given.

The amount of Annual Depreciation Expense:

$9,000

$15,000

$12,000

$3,000

The amount of Accumulated Depreciation at the date of exchange:

$12,000

$8,000

$9,000

$17,000

The amount of Book Value at the date of exchange:

$8,000

$5,000

$9,000

$3,000

The Gain or Loss amount:

Loss of $3,000

Gain of $3,000

Gain of $4,000

Gain of $1,000

The Cost of the New Equipment:

$4,000

$5,000

$8,000

$9,000

On January 1, 2018, Judy Company purchases an office equipment for $17,000 with an estimated useful life of 5 years and $2,000 salvage value. On December 31, 2020, Judy Company exchanged its equipment with Carla Company for newer equipment and pays $4,000 cash. At the date of exchange, the old equipment had a fair value of $5,000. The straight line method of depreciation is used and financial statements are prepared yearly at December 31