Martin Company purchases a machine at the beginning of the year at a cost of $80,000. The machine is depreciated using the straight-line method. The machine's useful life is estimated to be 5 years with a $5,000 salvage value. The book value of the machine at the end of year 5 is: Multiple Choice $0. $5,000. $75,000 $15,000 $32.000 Martin Company purchases a machine at the beginning of the year at a cost of $80,000. The machine is depreciated using the straight-line method. The machine's useful life is estimated to be 5 years with a $5,000 salvage value. The book value of the machine at the end of year 5 is: Multiple Choice O $0 $5,000 $75,000 $15,000 $32,000 A company had a tractor destroyed by fire. The tractor originally cost $129,000 with accumulated depreciation of $63,600. The proceeds from the insurance company were $24,000. The company should recognize: Multiple Choice A gain of $24,000. A loss of $65,400. A gain of $41,400. A loss of $41,400. A gain of $65,400