O'Leary Engineering Corp. has been depreciating a $50,000 machine for the last 3 years. The asset was just sold for 60% of its first cost. What is the size of the recaptured depreciation or loss at disposal using the following depreciation methods?
(a) Sum-of-years'-digits with N = 8 and S = 2000
(b) Straight-line depreciation with N = 8 and S = 2000 (c) MACRS GDS depreciation, classified as a 7-year property