On January 1, 2021, THE Company purchased a piece of equipment that cost $160,000. The equipment had a ten year life and a $30,000 salvage value assigned to it. THE Company will depreciate the equipment using the straight-line depreciation method. On January 1, 2025, THE Company determined the life of the equipment should be revised from 10 to 16 years. Calculate the depreciation expense recorded on the equipment for 2025. THE Company purchased a new machine on June 1, 2021 for $164,000. The machine was assigned a salvage value of $8,000 and an expected life of 20 years. The straight-line depreciation method will be used to calculate depreciation on the machine. On September 30, 2029, the machine was sold for $26,000 cash. Calculate the amount of the loss recorded on the sale. Do not place a minus sign in front of your