Given the following for the Illinois Company: Date 2013 Event Purchase Machine Salvage $2,000 Cost $14.000 5 year inte straight-line Cost: 54,000 No change in salvage 101/14 Addition to Machine Extends useful to 4/1/20 Depreciation expense for year-end 12/31/14 is approximately Select one: O a $2.533 O b. $2,266 O c $2.727 O d. 52,364 O e. $2,455 Knight Company purchased a new machine on May 1, 2014 for $98,000. At the time of acquisition, the machine was estimated to have a useful life of ten years and an estimated salvage value of $8,000. The company has recorded monthly depreciation using the straight-line method. On March 1, 2023, the machine was sold for $12,000 What should be the loss recognized from the sale of the machine? Select one: O a. No loss again is realized O b. $1,800 c. $6,500 O d. $5,000 @e, $14,000 Which item is considered in the depreciation of an asset by the Units-of-Output method that is not considered by other methods? Select one: O a. Salvage Value O b. Present Value of future cash flows O c. Amortized Cost O d. Amount of goods that the asset produces O e Cost of any improvements to the asset Net income is overstated if, in the first year, estimated salvage value is excluded from the depreciation computation when using which method(s); Select one: O a. Straight-line method and Units-of-Output method O b. Units-of-Output method, but not Straight-line method O Straight-line method, but not Units-of-Output method O d. Neither Straight-line nor Units-of-Output method