so. $1,000,000. C. $2,000,000. D. $3,000,000. Use the following information for questions 25 -26 On January 1, 2016, Casper Inc purchased a printing press by exchanging its o press which originally cost $100,000 and had a remaining book value of $20,000, and issuing time of the purchase was 8%. The estimated the useful life of the new printing press to be 8 years and uses the units of production method of depreciation for its printing presses, based upon pages printed. The company expected to print 10,000,000 pages over the useful life of the new press and did not expect the press to have a residual value at the end of its useful life. During 2016, 2017 and 2018, 1.2 million, 2.4 million and 3 million pages were printed, respectively ld printing a 2-year $90,000 noninterest bearing note. The company's discount rate at the new printing press had a list price of $95,000. Casper 25. What, if any, gain or loss would be recorded on the trade in of the old printing press for the new printing press on April 1, 2016 (rounded) oo,7760 A. No gain or loss. B. Loss of $2,000. C. Loss of $15,000. D. Gain of $5,000. 2,000 26. Including both interest expense on the note payable and depreciation on the new press, what was the total expense recorded in 2017 associated with this transaction (rounded up to the nearest thousand)? A. $30,000. B. $32,000. C. $35,000. D. $38,000