Lynch company owns and operates a delivery van that originally cost $$47,900$ lyn has recorded straight line depreciation on the van for four years calculated assuming at $$5000$ expected salvage value at the end of its estimated six year useful life appreciation was last recorded at the end of the fourth year which lunch disposes of the van.

a$.$ Compute the net book value of the van on the disposal date.

b$.$ Compute the gain or loss on sale of the van if the disposal proceeds are:

Use a negative sign with your answer if the sale results in a loss.

A cash amount equal to the van's net book value.

$$21,800$ cash. $

$$17,800$ cash. $