Question: 2) depreciation method: straight line purchase date 8/1/2020 cost: $ 20,000.00 estimated life: 5 sales price $ 1,000.00 date sold 12/31/2025 a) What is the

2) depreciation method: straight line purchase date 8/1/2020 cost: $ 20,000.00

2) depreciation method: straight line purchase date 8/1/2020 cost: $ 20,000.00 estimated life: 5 sales price $ 1,000.00 date sold 12/31/2025 a) What is the depreciation expense for yr 3 using the straight-line method? b) What is the net book value of the equipment at the end of year 2? c) Calculate gain/loss on sale of equipment. d) What is the account balance in accumulated depreciation on 12/31/2023

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