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Equipment was acquired af the beginning of the vear at a cost of $562,500. The equlpinent wat depreciated uving the straight-line method based on at estimated usahil fe of 9 vears and an estimated residual value of \$42,772, a. What was the depreciation for the fint yeur? Round your answer to the nearent cent. b. Using the rounded amount from Part a in your computation, detemnine the gaie or loss on the sein of the equipment, assuming it was said at the end of year eight for 3.i2]. Round your answer to the neareat cent. Enter your answer as a pesilive amount. fesitisk F Ched Mer wos tlook value is the assht cost minus aceumulated deprecialian. gain