Warehouse Supply Corporation obtained land, a factory, and manufacturing equipment in a lump-sum purchase for $990,000. An appraisal set the value of the land at $592,800, the factory at $421,800, and the equipment at $125,400. Immediately after the purchase, the factory was renovated at a cost of $50,000. At what amount should Warehouse Supply record the factory?

Group of answer choices

$366,300

$421,800

$471,200

$416,300

$535,709

Metal Company acquired recycling equipment on October 1, 2009, at a cost of $117,500, has an estimated useful life of 10 years, an estimated salvage value of $7,500, and is depreciated by the straight-line method. Assuming that the equipment was sold on July 1, 2013, for $73,500, the sale of the equipment would result in a

Group of answer choices

loss of $13,750

loss of %5,500

gain of $4,750

loss of $2,750

gain of $63