Equipment was acquired at the beginning of the year at a cost of $$612,500.$ The equipment was depreciated using the double$-$declining$-$balance method based on an estimated useful life of $9$ years and an estimated residual value of $$43,930.$

a$.$ What was the depreciation for the first year? Round your intermediate calculations to $4$ decimal places. Round the depreciation for the year to the nearest whole dollar.

b$.$ Assuming the equipment was sold at the end of the second year for $$605,702,$ determine the gain or loss on the sale of the equipment.

c$.$ Joumalize the entry on December $31$ to record the sale. Refer to the Chart of Accounts for exact wording of account titles.