Cowboy Ice Cream Company (CIC) purchased a new Ice Cream Truck to use in the retail division on January 1 Year 1, for $22,600. In addition, Cic paid sales tax and title fees of $1.230 for the vehicle. The truck is expected to have a five-year life and a salvage value of $6,720, Required a. Using the straight-line method, compute the depreciation expense for Year 1 and Year 2. (Round your answers to the nearest whole dollar amount.) b. Assume the truck was sold on January 1 Year 3. for $19,534 Determine the amount of gain or loss that would be recognized on the asset disposal. (Round the intermediate calculations to nearest whole dollar amount.) Year 1 Depreciation Year 2 Depreciation per year per year D on sale