Brief Exercise 11-9 (Static) Group depreciation; disposal [LO11-2) Mondale Winery depreciates its equipment using the group method. The cost of equipment purchased in 2021 totaled $425,000. The estimated residual value of the equipment was $40,000 and the group depreciation rate was determined to be 18% What is the annual depreciation for the group? Il equipment that cost $12,000 is sold in 2022 for $35,000, what amount of gain or loss will the company recognize for the sale? Annual depreciation $ 75.500 Gain No gain or loss