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F. A bus is purchased for $86,000 with a $6,000 estimated salvage value. It is expected to last 100,000 miles. In year 1, the bus
F. A bus is purchased for $86,000 with a $6,000 estimated salvage value. It is expected to last 100,000 miles. In year 1, the bus is driven 23,000 miles and is driven 32,000 miles in year 2. It is sold after the 2ad year for $36,000 What is the amount of accumulated depreciation at the end of year 2? How much gain or loss will be recognized when the bus is sold? $ Gain or Loss
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