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Use the following to answer questions 20 - 22 The company is in the process of closing its operations. It sold its 5 -year-old Caterpillar 279C Compact Track Loader for $80,000. The loader originally cost $170,000 and had an estimated useful life of 8 years and an estimated residual value of $30,000. The company uses straight-line depreciation for all equipment. 20. $ Calculate the book value of the loader at the end of the 5 th year. 21. $ What was the gain or loss on the sale of the loader at the end of the 5 th year; (if loss, put- in front of your answer)? 22. 5 Assume instead the company had originally estimated the Equipment had an estimated useful life of 7 years instead of 8 years. What would be the gain or loss on the sale of the loader at the end of the 5 th year (if loss, put - in front of your answer)? Use the following to answer questions 20 - 22 The company is in the process of closing its operations. It sold its 5 -year-old Caterpillar 279C Compact Track Loader for $80,000. The loader originally cost $170,000 and had an estimated useful life of 8 years and an estimated residual value of $30,000. The company uses straight-line depreciation for all equipment. 20. $ Calculate the book value of the loader at the end of the 5 th year. 21. $ What was the gain or loss on the sale of the loader at the end of the 5 th year; (if loss, put- in front of your answer)? 22. 5 Assume instead the company had originally estimated the Equipment had an estimated useful life of 7 years instead of 8 years. What would be the gain or loss on the sale of the loader at the end of the 5 th year (if loss, put - in front of your answer)