On March 12, 2008, Shoreham, Inc. acquired melting equipment for $45,600. The estimated life of the equipment is 6 years, with an estimated residual value of $2,400.
Sayville Dairy sold a delivery truck for cash of $8,680. The original cost of the truck was $33,600, and a loss of $5,320 was recognized on the sale. The accumulated depreciation at the date of sale must have been:
a $24,920. b $14,560. c $3,360. d $19,600.
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