Terra corporation purchased equipment with a 10-year useful life and zero residual value for $100,000. at the end of the fourth year, the equipment is exchanged for new equipment worth $110,000. terra gets a trade-in allowance of $70,000 on the exchange, with the remaining $40,000 paid in cash. which of the following is true of the net effect of this transaction? assume the straight-line depreciation method is used. (select all that apply.)