A company purchases a new truck on January 1, 2022 and pays cash. The cost of the truck is $36.000. The company expects that they will use the truck for 5 years and that at the end of 5 years, the truck will have a salvage value of $6,000 After two years, the company now is expected to be used for TOTAL of 6 years and the salvage value after 6 years is estimated to be $2,000 Assuming that the company uses the straight line method of depreciating the truck, what is the total depreciation expense for year 3 (.e., 2024)? O $4,000 $6,000 O $7,000 O $5,000 A company purchases a new truck on January 1, 2022 and pays cash. The cost of the truck is 526,000. The company expects that they will use the truck for 5 years and that at the end of 5 years, the truck will have a salvage value of $6,000 If the company implements a new method of depreciation upon the purchase of the asset and the accumulated deprecation for the asset under this new method totals $18,000 after four years, what must be the depreciation expense be in year 5 assuming no other assumptions have changed? Zero $2,000 $4,000 Cannot be determined with the information provided A company purchases a new forklift on January 1, 2022 and pays cash. The cost of the forklift is $46,000. The company expects that they will use the forklift for 6 years and that at the end of 6 years, the forklift will have a salvage value of 516,000. After two years, the company sells the forklift for $35,000. Assuming the company utilizes the straight line method for depreciation, what is the gain/(loss) on the sale of the forklift? O $1,000 Gain O $1,000 Loss $6,000 Gain $6,000 Loss