Harvey Enterprises purchased a machinery for $3,70,000 and spent $30,000 on its installation. Depreciation on the machinery is charged @ 10% p.a. on the Straight Line Method. The machinery is sold for $3,05,000. Books are closed on 31st March each year. Calculate the profit or loss on sale of the machinery in the following alternative cases: Case 1. Machinery was purchased on 1st April, 2017 and sold on 31st March, 2020. Case 2. Machinery was purchased on 1st July 2017 and sold on 31st March, 2019. Case 3. Machinery was purchased on 1st November 2017 and sold on 31st October, 2019. Case 4. Machinery was purchased on 1st April, 2017 and sold on 30th June, 2018.