On Jan . 1 , 2012 , ABC Corproation placed into service a lift truck that had a capitalized acquisiton cost of 45,000 , estimated useful life of 16 years , and estimated salvage value of 5000 . ABC depreciated the truck on a straight - ine basis through December 31 , 2018 then sold the used ft truck for 23200. in answering the questions below show your work including labeling of calculations a . What is the annual depreciation expense for the lift truck ? b . What was the lift trucks book value after recognizing depreciation on December 31 , 2018 ? c . What is the gain or loss ( if any ) on selling the lift truck