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Depreciation method: straight line purchase date: 1/1/10 cost: $225,000.00 estimated life: 20 sales price: $25,000.00 date sold: 12/31/15 a) What is the depreciation expense for

Depreciation method: straight line

purchase date: 1/1/10

cost: $225,000.00

estimated life: 20

sales price: $25,000.00

date sold: 12/31/15

a) What is the depreciation expense for yr 20 using the straight-line method?
b) What is the net book value of the equipment at the end of year 15?
c) Calculate gain/loss on sale of equipment.
d) What is the account balance in accumulated depreciation at the end of yr 20?
e) What is the depreciation expense for yr 1 using the double declining method?
f) Assuming the equipment was purchased on June 1, 2010 and sold on 12/31/2015, what is the gain or loss on sale ?

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