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Question: crane company which has a calendar year accounting period purchased...

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Crane Company, which has a calendar year accounting period, purchased a new machine for $92700 on April 1, 2013. At that time Crane expected to use the machine for nine years and then sell it for $9270. The machine was sold for $50000 on Sept. 30, 2018. Assuming straight-line depreciation, no depreciation in the year of acquisition, and a full year of depreciation in the year of retirement, the gain to be recognized at the time of sale would be $3650 O $9270 O $5650 O so.

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