During 2007, Geiger Co.sold equipment that had cost $98,000 for $58,800.This resulted in a gain of $4,300.The balance in Accumulated Depreciation-Equipment was $325,000 on January 1, 2007, and $310,000 on December 31.No other equipment was disposed of during 2007.Depreciation expense for 2007 was

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The Answer of During 2007, Geiger Co.sold equipment that had cost $98,000 for $58,800.This resulted in a gain of $4,300.The balance in Accumulated Depreciation-Equipment was $325,000 on January 1, 2007, and $310,000 on December 31.No other equipment was disposed of during 2007.Depreciation expense for 2007 was