On July 1, 2019, El Centro Kennels sells Machinery for $350,000. The Machinery originally cost $750,000, had an estimated 7-year life and an expected salvage value of $50,000. The accumulated depreciation account had a balance of $400,000 on January 1, 2019, using the straight-line method. The gain or loss on disposal is

a. $0 gain/loss.

b. $50,000 gain.

c. $50,000 loss.

d. $400,000 loss.

On July 1, 2019, Green Company purchased the copyright to Prince Data Analytics tutorials for $375,000. It is estimated that the copyright will have a useful life of 5 years with an estimated salvage value of $75,000. The amount of Amortization Expense recognized for the year 2019 would be

a. $64,800.

b. $60,000.

c. $30,000.

d. $32,400.