Assuming Ayayai sold the table for $9,800 at the end of the third year, calculate the gain or loss on disposal under each depreciation method.

Ayayai Corp.purchased a boardroom table for $17,000. The company planned to keep it for four years, after which it was expected to be sold for $1,000. (a) Your answer is correct. Calculate the depreciation expense for each of the first three years under the straight-line method and the double-diminishing- balance method, assuming the table was purchased early in the first month of the first year. (1) Straight-line method. Year 1 $ 4000 Year 2 $ 4000 Year 3 $ 4000 (2) Double-diminishing-balance method. Year 1 $ 8500 Calculate the depreciation expense for each of the first three years under the straight-line method and the double-diminishing- balance method, assuming the table was purchased early in the first month of the first year. (1) Straight-line method. Year 1 $ 4000 Year 2 $ 4000 Year 3 $ 4000 (2) Double-diminishing-balance method. Year 1 $ 8500 Year 2 $ 4250 Year 3 $ 2125 e Textbook and Media e Textbook and Media Attempts: 2 of 3 used (b) Assuming Ayayai sold the table for $9,800 at the end of the third year, calculate the gain or loss on disposal under each depreciation method Straight-line method Double-diminishing-balance method $ e Textbook and Media