On December 31, Strike Company has decided to sell one of its batting cages. The initial cost of the equipment was $206,790.00 with an accumulated depreciation of $186,111.00. Depreciation has been taken up to the end of the year. The company found a company that is willing to buy the equipment for $18,611.10. What is the amount of the gain or loss on this transaction

Acorporation a. can use different depreciation methods for tax and financial reporting purposes b. must use the straight - line depreciation method for tax purposes and double declining depreciation method financial reporting purposes c. must use different depreciation method for tax purposes, but strictly mandated depreciation methods for financial reporting purposes d. can use straight- line depreciation method for tax purposes and macrs depreciation method financial reporting purposes