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OnTime Packaging is the worlds leading express-distribution company. In addition to its 643 aircraft, the company has more than 57,000 ground vehicles that pick up and deliver packages. Assume that OnTime sold a delivery truck for $22,000. OnTime had originally purchased the vehicle and recorded it in the Truck account for $37,000 and had recorded depreciation for three years.

Required:

Calculate the amount of gain or loss on disposal, assuming that Accumulated DepreciationTruck was (a) $15,000, (b) $13,000, and (c) $21,000.