Question 15 of 20 View Policies Current Attempt in Progress ^ -/5 ! On May 1, 2021, Sheffield Company sells office furniture for $300000 cash. The office furniture originally cost $746800 when purchased on January 1, 2014. Depreciation is recorded by the straight-line method over 10 years with a salvage value of $80200. What gain should be recognized on the sale? (Hint: Use 7.333333 for years used in calculation.) O $44540. $22220. O $84080. O $42040. Save for Later Attempts: 0 of 1 used Submit Answer