Bonita Industries purchased equipment for $ 36000. Sales tax on the purchase was $ 2160. Other costs incurred were freight charges of $ 540, repairs of $ 315 for damage during installation, and installation costs of $ 605. What is the cost of the equipment? O $ 38160 $ 39620 O $ 39305 $36000 Swifty Corporation purchased a new machine on May 1, 2012 for $ 541200. At the time of acquisition, the machine was estimated to have a useful life of ten years and an estimated salvage value of $ 19800. The company has recorded monthly depreciation using the straight-line method. On March 1, 2021, the machine was sold for $ 66600. What should be the loss recognized from the sale of the machine? $ 14030. $ 19800. O $0. $33830. Coronado Industries purchased a depreciable asset for $ 174600. The estimated salvage value is $ 13400, and the estimated useful life is 10 years. The straight-line method will be used for depreciation. What is the depreciation base of this asset? O $ 174600 $ 161200 $ 16120 $ 17460 Two independent companies, Bramble Co. and Cullumber Co., are in the home building business. Each owns a tract of land held for development, but each would prefer to build on the other's land. They agree to exchange their land. An appraiser was hired, and from her report and the companies' records, the following information was obtained: Bramble's Land Cullumber's Land Cost and book value $538000 $ 357000 Fair value based upon appraisal 718000 633000 The exchange was made, and based on the difference in appraised fair values, Cullumber paid $ 85000 to Bramble. The exchange lacked commercial substance. The new land should be recorded on Cullumber's books at $ 442000. $ 697000. $ 357000. $ 612000