An asset was purchased for $$129,000$ on January $1,$ Year $1,$ and originally estimated to have a useful life of $10$ years with a residual value of

$$10,000.$ At the beginning of the third year, it was determined that the remaining useful life of the asset was only $4$ years with a residual value of

$$2,200.$ Compute the third$-$year depreciation expense using the revised amounts and straight$-$line method.

a$.$ $$26,250\mathrm{.}00$

b$.$ $$26,750\mathrm{.}00$

c$.$ $$24,750\mathrm{.}00$

d$.$ $$25,750,00$

A fixed asset with a cost of $$30,000$ and accumulated depreciation

of $$28,500$ is sold for $$3,500.$ What is the amount of the gain or

loss on disposal of the fixed asset?

a$.$ $$2,000$ gain

b$.$ $$1,500$ loss

c$.$ $$3,500$ gain

d$.$ $$2,000$ loss