An asset was acquired by Dehoyas Inc. on October 1, 2021, for $87 with an estimated five-year life and $15 residual value. The company uses units-of-production depreciation and expects the asset to produce 36 total units. Required: 1. What is the depreciable base? 2. Calculate the depreciation per unit of production. 3. Calculate the depreciation expense each year based on actual production: 2021 = 3,000 units 2022 = 2,000 units 2023 = 3,500 units 2024 = 4,000 units 4. Calculate the accumulated depreciation accrued to Dehoyas' asset as of March 31, 2024. 5. Calculate the book value of Dehoyas' asset as of March 31, 2024. 6. Calculate the gain or loss if the asset was sold on March 31, 2024, for $70,000. 7. Is your result a gain or a loss? Write "gain" or "loss