Question 11 Current Attempt in Progress On May 1, 2018, Concord Company sells office furniture for $307200 cash. The office furniture originally cost $733600 when purchased on January 1,2011. Depreciation is recorded by the straight-line method over 10 years with a salvage value of $73000. What gain should be recognized on the sale? 116080 $22020. $58040. $60540 Attempts: 0 of 1 used Save for Later Check