Next Page Page 5 of 5 Question 5 (1 point) Saved On December 31, 20x4, you purchase a building for $2,739,825. The building's useful life is expected to be 40 years after which it will have a residual value of $420,110. The diminishing balance method of depreciation is used at the rate of 5%. On December 31, 20x7, the building is sold for $2,594,484. What is the gain (loss) on sale of the building (Round to the nearest whole dollar. A loss should be expressed as a negative number. Example: -1,000 would represent a loss of $1,000)? Your Answer: Next Page Answer Page 5 of 5