MSC sold a piece of machinery which it purchased 5 years and 5 months ago. At the time of purchase the machinery had a useful life of 10 years and cost $100,000. It had no salvage value and was being depreciated using the sum-of-the-year's digits depreciation method. Five years worth of depreciation have been taken but MSC must bring the depreciation up to date for 5 months. The machinery was sold for $17,000 cash