Ngu owns equipment that cost $100,700 with accumulated depreciation of $68,800. Ngu asks $36,800 for the equipment but sells the equipment for $34,200. Compute the amount of gain or loss on the sale.

• $2,600 gain.

• $2,300 gain.

• $2,300 loss.

• $4,900 loss.

• $4,900 gain.

Wickland Company installs a manufacturing machine in its production facility at the beginning of the year at a cost of $141,000. The machine's useful life is estimated to be 20 years, or 400,000 units of product, with a $9,000 salvage value. During its second year, the machine produces 16,000 units of product. Determine the machines' second year depreciation under the straight-line method.

• $5,280.

• $6,600.

• $7,050.

• $5,640.

• $7,500.