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  3. 2) francisco purchased a machine on january 1, 201

2) Francisco purchased a machine on January 1, 2012 for $600,000. Francisco estimated a useful...

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Accounting

2) Francisco purchased a machine on January 1, 2012 for $600,000. Francisco estimated a useful life of 10 years and residual value of $10,000. The company uses straight-line depreciation. The machine was sold on December 31, 2014 for $350,000. What was the gain/loss on disposal of the machine?

A) $70,000 loss.

B) $70,000 gain.

C) $73,000 loss.

D) $73,000 gain.

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