# An asset's book value is $18,100 on December 31, Year 5. The asset has been depreciated... ###### Question: An asset's book value is$18,100 on December 31, Year 5. The asset has been depreciated at an annual rate of $3,100 on the straight-line method. Assuming the asset is sold on December 31, Year 5 for$15,100, the company should record:

• A loss on sale of $3,000. • A gain on sale of$3,000.

• A gain on sale of $1,650. • Neither a gain nor a loss is recognized on this type of transaction. • A loss on sale of$1,650.

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