a. A plant asset has a cost of $40100 and a salvage value of $10100. The asset has a three-year life. If depreciation in the third year amounted to $5000, which depreciation method was used?

Cannot tell from information given

Straight-line

Declining-balance

Sum-of-the-years'-digits

b.On June 1, 2020, Ivanhoe Company sold some equipment to Flint Company. The two companies entered into an installment sales contract at a rate of 7%. The contract required 4 equal annual payments with the first payment due on June 1, 2020. What type of compound interest table is appropriate for this situation?

Present value of an annuity due of 1 table.

Present value of an ordinary annuity of 1 table.

Future amount of an ordinary annuity of 1 table.

Future amount of 1 table.