I
Equipment was purchased that had a useful life of 5 years and no salvage value. It was
depreciated with a straight-line method. On the last day of the fourth year, the
equipment was sold by $5,000 and resulted in a loss of $3,000. At the time of sale, the
accumulated depreciation was $32,000. Using the information, compute the original
cost of the equipment.
The correct answer is not listed
• $37,000
• $40,000
• $44,000
• 32,000