On December 31, 2013, Stable Company sold a plece of equipment that was purchased on January 1, 2008. The equipment originally cost $730,000 and has an estimated useful life of eight years. Stable uses the straight-line method of depreciation. What is the gain/loss on the sale of equipment that Stable will recognize if the equipment was sold for $203,000 ? Multiple Choice $20,500 gain $203,000 gain $111,750 gain $20,500 loss