On April 1, 2004, Cardot Co., which uses straight-line depreciation, purchased equipment for $60,000 with a useful life of 7 years and $4,000 salvage value. On April 1, 2008, the equipment was sold for $30,000. What gain should Cardot recognize as a result of this disposition?

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The Answer of On April 1, 2004, Cardot Co., which uses straight-line depreciation, purchased equipment for $60,000 with a useful life of 7 years and $4,000 salvage value. On April 1, 2008, the equipment was sold for $30,000. What gain should Cardot recognize as a result of this disposition?