QUESTION 19 Your firm bought a machine for 57,000 on 1 January 2020, which had an expected useful life of four years and an expected residual value of 1,000: the asset was to be depreciated on the straight-line basis. The firms policy is to charge depreciation in the year of disposal. On 31 December 2022, the machine made a loss on disposal of 2,500. What is the amount of the sale proceeds on disposal of the asset?