On January 1, 2017, Concord Corporation purchased for $738000, equipment having a useful life of ten years and an estimated salvage value of $48000. Concord has recorded monthly depreciation of the equipment on the straight-line method. On December 31, 2025, the equipment was sold for $132500. As a result of this sale, Concord should recognize a gain of
â—‹ $132500.
© $15500.
O $0.
â—‹ $63500.