One of our vehicles is causing us trouble and so far, this year we have spent $3,300 on repairs and maintenance. In 2014 we purchased the Ford E-350 Van for $35,700. The vehicle has a useful life of 10 years and according to our fixed assets system, we have accumulated $23.205 in depreciation since we purchased the vehicle. The vehicle needs another costly repair estimated at $1,600 that does not extend the useful life of the vehicle. We are trying to decide if we should pay for the repair or sell the vehicle as-is. The mechanic who services the company's vehicles offered to purchase the vehicle for $14,000. If we sold the vehicle, what would be the reported gain or loss on the sale? If we sold the vehicle, we would record a $1,795 loss on the sale of the vehicle If we sold the vehicle, we would record a $3,395 loss on the sale of the vehicle. If we sold the vehicle, we would record a $95 loss on the sale of the vehicle. If we sold the vehicle, we would record a $1,505 gain on the sale of the vehicle