On December 31, Strike Company has decided to sell one of its batting cages. The initial cost of the equipment was $275,263.00 with an accumulated depreciation of $261,499.85. Depreciation has been taken up to the end of the year. The company found a company that is willing to buy the equipment for $31,655.25. What is the amount of the gain or loss on this transaction? Select the correct answer. Cannot be determined Gain of $17,892.10 Loss of $17,892.10 Gain of $31,655.25 Previous Ne 2:43 PM 8/6/2019
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