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On April 30, 2016, Camire & Sons sold some used equipment for $56,000. The accumulated...

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Accounting

On April 30, 2016, Camire & Sons sold some used equipment for $56,000. The accumulated depreciation on the equipment when sold was $64,000. Camire & Sons properly recorded a $22,000 gain on the sale. The original cost of the equipment when it was purchased several years ago by Camire & Sons must have been:

A.

$25,000
B.

$98,000
C.

$28,000
D.

$78,000

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