1. Z Corp. purchased new equipment for $900,000. Other costs connected with the purchase were as follows. The equipment has a useful life of 5 years and is expected to have a value of $140,000 at the end of five years. Required: 1. Determine the capitalized cost of the equipment. 2. Calculate the equipment's depreciation using the straight-line and Double Declining balance methods if the equipment is used for five years. 3. Assume the equipment is sold after the end of the third year for $425,000. Calculate the gain or loss on the sale using both methods of depreciation