Answer each of the following questions 1. A plant asset purchased for $500,000 has an estimated life of 10 years and a residual value of $25,000. Depreciation for the second year of use, determined by the declining-balance method at twice the straight-line rate is $ 2. A plant asset purchased for $440,000 at the beginning of the year has an estimated life of 5 years and a residual value of $40,000. Depreciation for the third year, determined by the sum-of-the-years'-digits method is $ 3. A plant asset with a cost of $480,000 and accumulated depreciation of $135,000, is given together with cash of loss- $180,000 in exchange for a similar asset worth $495,000. The 4. A plant asset with a cost of $540,000, estimated life of 5 years, and residual value of $90,000, is depreciated by the recognized on the disposal is $ straight-line method. This asset is sold for $380,000 at the end of the second year of use. The gain on the disposal is $