Carpenters, Inc., a manufacturing company, acquired equipment on January 1, 2017 for $574,000. Estimated useful life of the equipment was seven years and the estimated residual value was $14,000. On January 1, 2020, after using the equipment for three years, the total estimated useful life has been revised to ten total years. Residual value remains unchanged. The company uses the straight-line method of depreciation Calculate depreciation expense for 2020, $57,333 $45,714 $53,333 $58,889 On January 1, 2017, Dennis Supply purchased equipment for $56,000 cash, expecting it to remain in service for six years. The equipment is depreciated using the straight-line method with $2,000 estimated residual value. On April 30, 2019, the equipment was sold for $48.000 cash. What is the gain or loss of this equipment disposal transaction? Loss $13,000 Gain $10,000 Loss $10,000 Gain $13,000 An asset was purchased for $37,000 on January 1, 2019. The asset's estimated useful life was five years, and its residual value was $9,000. The straight-line method of depreciation was used, Calculate the gain or loss if the asset is sold for $43.800 on December 31, 2019, the last day of the accounting period, $12,400 gain no gain or no loss 56,200 gain $12.400 loss