Which one of the following statements is correct? O a Select one: A loss on equipment disposal is recognized when its book value is higher than its selling price O b. A loss on equipment disposal is classified as an operating expense O c. When depreciation rates are revised, depreciation expense recorded in previous years is changed O d. The replacement of a delivery truck's tires is classified as a capital expenditure O e Straight line depreciation is the cost of the asset divided by the its useful life