14.04/26 Question 3 View Policies Show Attempt History Current Attempt in Progress Martinez Corp. purchased a boardroom table for $17,480. The company planned to keep it for four years, after which it was expected to be sold for $940. (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 $ Year 2 $ Year 3 $ 4611 41551 41551 (2) Double-diminishing-balance method: Year 1 $ Year 2 $ Year 3 $ 87240 2x70 2185 Attempts: 1 of 3 used Question Part Score 12/12 (b) - Your answer is partially correct. Assuming Martinez sold the table for $5,134 at the end of the third year, calculate the gain or loss on disposal under each depreciation method. $ 9992 2. V Straight-line method Double-diminishing-balance method $ Save for Later Attempts: 1 of 3 used Submit Answer Question Part Score 2/8