The following data relate to the Plant Assets account of Sage Hill Inc. at December 31, 2022: Original cost Year purchased Useful life Residual value Depreciation method Accumulated depreciation through 2022 $46,300 2017 $40,000 2018 10 years 15,000 hours $4,200 $4,000 straight-line activity $21,050 $24,100 Note: In the year an asset is purchased, Sage Hill does not record any depreciation expense on the asset. In the year an asset is retired or traded in, Sage Hill takes a full year's depreciation on the asset. The following transactions occurred during 2023: 1. On May 5, Asset A was sold for $17,000 cash. The company's bookkeeper recorded this retirement