1)	date placed in service:	6/1/22
	cost:	$140,000
	useful life:	7 yrs
	sales price	$10,000
	date sold:	12/31/27
a)	What is the depreciation expense for yr 1 using the straight-line method?
b)	What is the net book value of the fixed asset at the end of year 9?
c)	What is the depreciation expense for yr 8 using the straight-line method?
d)	Calculate any gain or loss when the fixed asset is sold.
2)	date placed in service:	1/1/22
	cost:	$25,000
	useful life:	5 yrs
	sales price	$10,000
	date sold:	12/31/25
a)	What is the depreciation expense for yr 1 using the straight-line method?
b)	What is the depreciation expense for yr 2 using the straight-line method?
c)	Calculate any gain or loss when the fixed asset is sold.
d)	Assume the fixed asset was sold for $5,000 on 12/31/2024, calculate the gain or loss on the sale.
3)	date placed in service:	8/1/22
	cost:	$40,000
	useful life:	10 yrs
	sales price	$10,000
	date sold:	12/31/30
a)	What is the depreciation expense for yr 1 using the straight-line method?
b)	What is the depreciation expense for yr 2 using the straight-line method?
c)	Calculate any gain or loss when the fixed asset is sold.
d)	What is the balance in the accumulated depreciation account on 12/31/2028?