Question: Fixed assets straight line 3) depreciation method: purchase date cost: estimated life: sales price date sold 1/1/20 35,000 7 15,000 12/31/26 a) What is the

Fixed assets Fixed assets straight line 3) depreciation method: purchase date cost: estimated life:

straight line 3) depreciation method: purchase date cost: estimated life: sales price date sold 1/1/20 35,000 7 15,000 12/31/26 a) What is the depreciation expense for yr 2 using the straight-line method? b) What is the net book value of the equipment at the end of year 4? c) Calculate gain/loss on sale of equipment. d) What is the depreciation expense for yr 1 using the double declining method

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