On December 31, Strike Company sold one of its batting cages for $194,862. The equipment had an original cost of $229,250 and has accumulated depreciation of $34,388. Depreciation has been recorded up to the end of the year. What is the amount of the gain or loss on this transaction? Equipment with a cost of $132,300, an estimated residual value of $6,300, and an estimated life of 15 years was depreciated by the straight-line method for 5 years. Due to obsolescence, it was determined that the remaining useful life should be shortened by 3 years and the residual value changed to zero. The depreciation expense for the current and future years is ? WRONG