Be You purchased a new piece of equipment on January 1,2019 for $225,000. The equipment had an estimated useful life of 5 years and an estimated salvage value of \$O. Which of the following statements is correct? If the company uses the double declining balance method for depreciation, the depreciation expense reported in 2020 was $54,000. If the company fully depreciates the equipment, $225,000 in depreciation expense will be recognized over the equipment's estimated useful life. If the equipment was sold for $130,000 on December 31,2020 and the company uses the straight line method for depreciation, the company reported a $5,000 loss on the sale. The book value of the equipment at the end of its useful life will be $0. All of the above are correct