Status Corporation purchased for $350,000 a new numerical controller during the last month of 2012. Extra installation costs were $40,000. The recovery period was 7 years with an estimated salvage value of 10% of the original purchase price. Status sold the system at the end of 2015 for $45,000. State the numerical values for the following: remaining life at sale time, market value in 2015, book value at sale time if 65% of the unadjusted basis had been depreciated.

possible answers:

	Remaining life = 4 years Market value = $45,000 Book value = $136,500
	Remaining life = 7 years Market value = $305,000 Book value = $35,000
	Remaining life = 4 years Market value = $40,000 Book value = $253,500
	Remaining life = 3 years Market value = $310,000 Book value = $45,000