Tulip Corporation purchased equipment for $53,000 on January 1, 2023. On December 31,2025 , the equipment was sold for $25,000. Accumulated Depreciation as of December 31,2025 was $26,000. Calculate gain or loss on the sale. A. $2,000 gain B. $2,000 loss C. $26,000 loss D. no gain, no loss Kolbe Company has the opportunity to invest in a project for the next 8 years. The amount of the investment is $100,000 today, and the company would eam a 5% return each year. What would be the value of the investment at the end of 8 years? A. $147,700 B. $146,900 C. $155,100 D. $158,700 On January 1,2025 , a corporation acquired a truck for $50,000. Residual value was estimated to be $10,000. The truck can be driven for 140,000 miles or a useful life of four years. Actual usage of the truck was recorded as 15,000 miles for the first year. What is the amount of depreciation expense for the first year calculated by the double - declining - balance method? A. $25,000 B. $5,400 C. $4,350 D. $10,000 Equipment was acquired for $256,000 and has accumulated depreciation of $195,000. The business exchanges this equipment for new equipment. The new equipment has a market value of $205,000 and the business pays $158,000 cash. Assume the exchange has commercial substance. The exchange results in a A. gain of $144,000 B. loss of $14,000 C. loss of $144,000 D. gain of $14,000