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On January 1,2009, Coronado Industries purchased for $690000, equipment having a useful life of ten years and an estimated salvage value of $48600. Coronado has

On January 1,2009, Coronado Industries purchased for $690000, equipment having a useful life of ten years and an estimated salvage value of $48600. Coronado has recorded monthly depreciation of the equipment on the straight-line method. Orn December 31,2017, the equipment was sold for $ 152500. As a result of this sale, Coronado should recognize a gain of $88360. $152500. $0. $39760

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