On December 31, Strike Company has decided to sell one of its batting cages. The initial cost of the equipment was $242,801.00 with an accumulated depreciation of $218,520.90 . Depreciation has been taken up to the end of the year . The company found a company that is willing to buy the equipment for \$21,852.09 . What is the amount of the gain or loss on this transaction ? Select the correct answer . Loss of \$2,428.01 Gain of \$24,280.10 X Gain of $2,428.01 Loss of \$24,280.10

On December 31, Strike Company has decided to sell one of its batting cages. The initial cost of the equipment was $242,801.00 with an accumulated depreciation of $218,520.90. Depreciation has been taken up to the end of the year. The company found a company that is willing to buy the equipment for $21,852.09. What is the amount of the gain or loss on this transaction