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61. Ecker Company purchased a new machine on May 1, 2004 for $264,00 0.

At the time of acquisition, the machine was estimated to have a useful life o f ten years and an estimated salvage value of $12,000. The company has recorded monthly depreciation using the straight-line method. On March 1, 2013, the machi ne was sold for $36,000. What should be the loss recognized from the sale of the machine? a. $0. b. $5,400. c. $12,000. d. $17,400. 62. On January 1, 2004, Mill Corporation purchased for $304,000, equipment h aving a useful life of ten years and an estimated salvage value of $16,000. Mill has recorded monthly depreciation of the equipment on the straight-line method. On December 31, 2012, the equipment was sold for $56,000. As a result of this s ale, Mill should recognize a gain of a. $0. b. $11,200. c. $27,200. d. $56,000.