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Use the following to answer questions 2022 The company is in the process of closing...

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Accounting

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Use the following to answer questions 2022 The company is in the process of closing its operations. It sold its 5-year-old Front-end loader for $95,000. The loader originally cost $$200,000 and had an estimated useful life of 8 years and an estimated residual value of $$25,000. The company uses straight-line depreciation for all equipment. 20. \$ Calculate the book value of the loader at the end of the 5 th year. 21. What was the gain or loss on the sale of the loader at the end of the 5th year; (if loss, put - in front of your answer)? 22. $ Assume instead the company had originally estimated the Equipment had an estimated useful life of 7 years instead of 8 years. What would be the gain or loss on the sale of the loader at the end of the 5th year (if loss, put - in front of your answer)

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