Use the following to answer questions $20-22$

The company is in the process of closing its operations. It sold its

$5-$year$-$old Front$-$end loader for $$100,000.$ The loader originally

cost $$$200,000$ and had an estimated useful life of $8$ years and an

estimated residual value of $$25,000.$ The company uses straight$-$

line depreciation for all equipment.

$

Calculate the book value of the loader at

the end of the $5$ th year.

$

What was the gain or loss on the sale of the

loader at the end of the $5$th year; $($if loss, put $-$ in front of your

answer$)?$

Assume instead the company had originally

estimated the Equipment had an estimated useful life of $7$ years

instead of $8$ years. What would be the gain or loss on the sale

of the loader at the end of the $5^{th}$ year $($if loss, put $-$ in front of

your answer$)?$