3) straight line 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? 4) straight line depreciation method: purchase date cost: estimated life: sales price date sold 4/1/20 20,000 5 1.000 11/31/2030 a) What is the depreciation expense for yr I using the straight-line method? b) What is the net book value of the equipment at the end of year 2? e) Calculate gain loss on sale of equipment. d) What is the account balance in accumulated depreciation on 12/31/20257 5) depreciation method: purchase date cast: estimated life: sales price date sold straight line 8/1/20 50,000 10 10,000 12/31/28 a) What is the depreciation expense for year 10 using the straight-line method? b) What is the net book value of the equipment at the end of year 9? c) Calculate gain/loss on sale of equipment d) What is the account balance in accumulated depreciation at the end of yr 4