Presented below are selected transactions at Iyon Company for 2017. Jan. I Retired a piece of machinery that was purchased on January 1, 2007. The machine cost $75,000 on that date. It had a useful life of 10 years with no salvage value. June 30 Sold a computer that was purchased on January 1. 2014. The computer cost $35,000. It had a useful life of 5 years with no salvage value. The computer was sold for $12, 500. Dec. 31 Discarded a delivery truck that was purchased on January 1. 2013. The truck cost $40,000 It was depreciated based on a 6-year useful life with a $4,000 salvage value