Question 10 16 View Policies Current Attempt in Progress Pina Colada Corp. purchased a boardroom table for $17,720. The company plorwed to keep it for four years, after which it was expected to be sold for $940. 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 s Year 2 $ Year 3 $ (2) Double-diminishing-balance method: Year 1 $ Year 25 Year 3 $ Assuming Pina sold the table for $5,228 at the end of the third year, calculate the gain or loss on disposal under each depreciation method. Straight-line method $ Double-diminishing balance method $ Determine the impact on net income (total depreciation of the table plus any loss on disposal or less any gain on disposal) of each method over the entire three-year period, Straight-line method $ Double-diminishing-balance method $ Which method of depreciation do you believe is the most appropriate for a boardroom table