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5 DEPRECIATION AND DISPOSAL OF FIXED ASSETS Comparison of Depreciation Methods on Co. purchased a new crane for $350, 000 at the beginning ite of eight (8) years. The crane is expected to last as used for 15,000 hours in year 1, 18,000 hours in crane has an estimated residual value of $42,000 and an year 2 and 25,000 hours in year 3. Compute the annual depreciation and carrying the first three (3) years under each of the fol value for the new crane for a) Straight-line method (3 points) b) Units of activity (production) method (3 points) peclining balance method (3 pointa) d) The machine is sold for $150, 000 on January 2, 2020. Calculate the gain or loss using the value on sale date under the declining balance method. (2 points) e) Prepare the journal entry to record the sale on January 2, 2020 (2 points) B EGHTED AVERAGE SHARES OUTSTANDING The following information is available for Jacob Corporation: January 1, 2013 Shares outstanding May 31, 2013 August 31, 2013 Treasury shares purchased November 1, 2013 Shares issued 1,000,000 240,000 72,000 96,000 Shares issued Calculate the weighted average shares outstanding for the year (if necessary, round to the nearest share. (5 points)