3. A company acquired a truck for $79,000 at the beginning of the fiscal year. It has a useful life of 5 years and a residual value of $9,000. The company uses the straight-line method of depreciation. After owning the truck for three years, the company sold it for $34,000. (a) Determine depreciation expense for each of the first three years, and (b) determine the gain or loss resulting from the sale