Equipment was acqured ot the beglnning of the year at a cost of 3575,000 . The equipment was degreciated using the straight-line method based on an estimated useful We of 9 years and an estinated resldual value of 547,030 . What was the depreciation for the fint year? Round your answer to the nearest cent. b. Using the rounded amounk from Part a in wour computation, determine the gain or loss on the sale of the equipment, assuming it was sold at the end of year eight for Mob.s53. Round your bhwwer to the nearest cent. Enter Your answer as a positive amouot. c. Joumeise the entry to record the sble. If an amount box does not require an entry, leave it blonk. Round your answers to the nearest cent