A business buys a delivery van for $8000 on 1 J January 2012. Its estimated useful life in the business is 4 years, after which it will be sold for an estimated residual value of $2000. Required: Prepares tables showing the carrying amounts brought down and carried down and the depreciation expense for each of the four years of useful life using: 1. a. Straight line method of depreciation b. Reducing balance depreciation 2. Assume a business disposed of a delivery van on 1 January 2014 for $5000. Calculate the loss/gain on the disposal under straight line and also reducing balance method. [Marks: (8+8+8)=24]