Schwerin Corporation reports the following on its 2005 financial statements. Gross P, P&E Accumulated depreciation Net P, P & E From statement of cash flows: Cash proceeds from sale of equipment Cash outflow for purchase of equipment Depreciation Gain from sale of equipment 37. The net book value of equipment sold was: A. $120M B. $100M 2004 2005 $500M $550M $400M $380M $300M $270M $100M $170M $ 50M $ 40M C. $ 80M D. $60M 38. The gross Book Value of equipment sold was! A. 120 M B. 100 M C. COM D. Go M A 7-11