BPP Company maintains underground storage tanks for its operations. A new storage tank was installed and made ready for use at a cost of $500,000 on January 1, 2020. The useful life is estimated at 10 years, at which time the company is legally required to remove the tank and restore the area at an estimated cost of $40,000. The appropriate discount rate for the company is 12%. The present value factor of $1 at i=12% and n=10 is 0.32197. The storage tank asset should be recorded at $512,879. O $500,000 $487.121. $540,000 When a company reports a loss on the sale of a depreciable asset, which of the following is always true? O The company sold the asset for less than fair value. The company sold the asset for less than book value. The company sold the asset before the useful life was over. The company sold the asset for less than accumulated depreciation