On December 31, Strike Company has decided to sell one of its batting cages. The initial cost of the

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