3. The use of straight-line depreciation and the double-declining-balance depreciation methods: A) Produce the same total depreciation over an asset's useful life B) Produce the same depreciation expense each year C) Produce the same book value each year D) Are acceptable for tax purposes only E) Are the only acceptable methods of depreciation for financial reporting 4. Ben Simmons LLC decides to sell a storage unit for $2,500 that was purchased for $5,000 and has accumulated depreciation of $2,000, what should this company record on the books at the time of sale: A) A gain of $500 B) No gain or loss should be recognized C) A loss of $500 D) Loss of $3,000 E) Gain of $3,000