Noble Company has equipment that originally cost $126,000. Depreciation has been recorded for six years using the straight-line method, with a $14,000 estimated salvage value at the end of an expected eight-year life.

After recording depreciation at the end of the sixth year, Noble sells the equipment.

a. Calculate the book value of the equipment at the end of the sixth year. $Answer 0 b. Calculate the gain or loss on the equipments sale for:

i. $54,000 cash:. $

ii. $42,000 cash:. $

iii. $36,000 cash:. $

Enter losses using negative numbers.