ABC Company purchased equipment on January 1, 2019 for $10,000 with a salvage value of $2,000 and 2 years useful life. The company decided to sell the equipment on October 1, 2020 for $3,000.

Compute the amount of:

Annual Depreciation Expense .

Depreciation Expense of the Year 2019

Depreciation Expense of the Year 2020

Accumulated Depreciation at disposal date

Book Value at disposal date

Gain or Loss on Disposal amount