The following are some transactions of Wildhorse Compary for 2024. Wildhorse Company uses utraight-line depreciation and has a December 31 yearend. Ape. 1 Retired a piece of equipment that was purchased on January 1, 2015, for 550,000 . The equipment had an expected useful life of 10 years with no residual value. July 30 Sold equipment for $1,300 cash. The equipment was purchased on January 3,2022 , for $13,320 and was depreciated over an expected useful life of three years with no residual value. Nov, 1 Traded in an old vehicle for a new vehicle, receiving a $10,000 trade-In allowance and paying $36,000 cash. The old vehicle had been purchased on November 1,2018, at a cost of $34,300. The estimated usefullife was eight vears and the estimated residual value was $6.700. The fair value of the old vehicle was 59.200 on November 1.2024. presented in the probiem