Disposal of fixed asset Equipment acquired on January 6 at a cost of $154,600 has an estimated useful life of 7 years and an estimated residual value of $20,200. a. What was the annual amount of deprecation for Years 1-3 using the straight-line method of depreciation? b. What was the book value of the equipment on January 1 of Year 4 ? c. Assuming that the equipment was sold on January 3 of Year 4 for $92,200, journalize the entry to record the sale. If an amount box does not require an entry, leave it blank. d. Assuming that the equipment had been sold on January 3 of Year 4 for $98,900 instead of $92,200, journalize the entry to record the sale. If an amount box does not require an entry, leave it blank. Date Account Debit Credit Alaska Mining Co, acquired mineral rights for $15,410,000. The mineral deposit is estimated at 67,000,000 tons, During the current year, 10,050,000 tons were mined and sold. a. Determine the amount of depletion expense for the current year. Round the depletion rate to two decimal places. Comparing three depreciation methods Dexter Industries purchased packaging equipment on January 8 for $108,000. The equipment was expected to have a useful life of 3 years, or 27,000 operating hours; and a residual value of $5,400. The equipment was used for 10,800 hours during Year 1,8,100 hours in Year 2 , and 3,100 hours in Year 3 . Required: 1. Determine the amount of depreciation expense for the 3 years ending December 31 , by (a) the straight-line method, (b) the units-of-activity method, and (c) the double-declining-balance method. Also determine the total depreciation expense for the 3 years by each method. Do not round intermediate calculations when determining the depreciation rate. Round the final answers for each year to the nearest whole dollar. 2. What method yields the highast depreciation expense for Year 17 3. What method yields the most depreciation over the 3-year life of the equipment