Ngu owns equipment that cost $93,500 with accumulated depreciation of $64,000.Ngu asks $35,000 for the equipment but sells the equipment for $33,000.Compute the amount of gain or loss on the sale.
A)$3,500 loss.
B)$5,500 gain.
C)$5,500 loss.
D)$3,000 gain.
E)$3,500 gain.

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The Answer of Ngu owns equipment that cost $93,500 with accumulated depreciation of $64,000.Ngu asks $35,000 for the equipment but sells the equipment for $33,000.Compute the amount of gain or loss on the sale.
A)$3,500 loss.
B)$5,500 gain.
C)$5,500 loss.
D)$3,000 gain.
E)$3,500 gain.

Ngu Owns Equipment That Cost $93,500 with Accumulated Depreciation of $64,000.Ngu