how do you do part b?

Cheyenne Corp. purchased a boardroom table for $18,000. The company planned to keep it for four years, after which it was expected to be sold for $3,000. (a) Your answer is correct Calculate the depreciation expense for each of the first three years under the straight-line method and the double-diminishing- balance method, assuming the table was purchased early in the first month of the first year. (1) Straight-line method. Year 1 $ 3750 Year 2 $ 3750 Year 3 3750 (2) Double-diminishing-balance method. Year 1 $ 9000 Year 2 4500 Year 3 $ 2250 (b) Your answer is partially correct. Assuming Cheyenne sold the table for $7,000 at the end of the third year, calculate the gain or loss on disposal under each depreciation method. Straight-line method 250 Gain V Double-diminishing-balance method $ 4500 Gain