On March 10, 2027, Concord Company sells equipment that it purchased for $202,100 on August 20,2020 . It was originally estimated that the equipment would have a life of 12 years and a salvage value of $17,640 at the end of that time, and depreciation has been computed on that basis. The company uses the straight-line method of depreciation. On March 10, 2027, Concord Company sells equipment that it purchased for $202,100 on August 20,2020 . It was originally estimated that the equipment would have a life of 12 years and a salvage value of $17,640 at the end of that time, and depreciation has been computed on that basis. The company uses the straight-line method of depreciation