Colleen's Cookies sold a piece of equipment on January 1, 2018. The company originally purchased the equipment 20 years ago for $200,000. Accumulated depreciation on the date of sale was $120,000. The sale resulted in a gain of $5,000. What was the sales price of the equipment? $205,000 $85,000 $125,000 $80,000 An asset having a four-year service life and a salvage value of $15,000 was acquired for $135,000 cash on January 2, 2017. Using the double-declining balance method, what will be the depreciation expense at December 31, 2018? $33,750 $15,000 $67,500 $0