Question 8 Not yet answered Knight Company purchased a new machine on May 1, 2014 for $88,000. At the time of acquisition, the machine was estimated to have a useful life of ten years and an estimated salvage value of $4,000. The company has recorded monthly depreciation using the straight-line method. On March 1, 2023, the machine was sold for $8,000. What should be the loss recognized from the sale of the machine? Points out of 3.00 Flag Select one: a. No loss; a gain is realized. question b b. $1,800 c. $6,500 d. $5,800 e. $3,000 A depreciable asset has an estimated 15% salvage value. At the end of its estimated useful life, the accumulated depreciation will equal the original cost of the asset under which of the following depreciation methods? Question 9 Not yet answered Points out of 3.00 Select one: a. Straight-line and Units-of-Output P Flag question b. Straight-line, but not Units-of-Output c. Units-of-Output, but not Straight-line d. Neither Straight-line nor Units-of-Output Question 10 Net income is overstated if, in the first year, estimated salvage value is excluded from the depreciation computation when using which method(s): Not yet answered Points out of 3.00 Select one: a. Straight-line method and Units-of-Output method Flag question b. Units-of-Output method, but not Straight-line method c. Straight-line method, but not Units-of-Output method , - d. Neither Straight-line nor Units-of-Output method