Equipment was acquired at the beginning of the year at a cost of $625,000. The equipment was depreciated using the straight line muthed based on an estimated selle of years and an estimated residual value of $40,045, a. What was the depreciation for the first year? Round your awer to the nearest cent. b. Using the rounded amount from Partain your computation determine the gainos) on the sale of the equipment, assuming it was sold at the end of yearly for $101.061. Round your answer to the nearest cent and enter as a positive amount c. Journal or the entry to record the sale. If an amount box does not require an entry leave it bank. Round your answers to the nearest cent 1000 0100