48. On January 1, 2016, Keller Company purchased a machine for $175,000. It had a...
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48. On January 1, 2016, Keller Company purchased a machine for $175,000. It had a $25,000 salvage value and a 10-year useful life. Assuming that Keller uses the double-declining balance method, and Keller sells the asset for $95,000 on December 31, 2018, what gain or loss would Keller recognize on the sale of the asset?
$1,000 loss
$17,000 loss
$5,400 gain
$18,200 gain
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