Lam industries purchased a new machine costing $448,600 on January 1, 2019. The assets has an expected life of 10 years with an expected salvage value of $8,000. The decision was made to discontinue its use after 4 years. 1. Compute the cumulative depreciation and NBV at the discontinue date. 2. What would we record for gain or loss if we sold the assets under the following scenarios? a. Proceeds of $200,000 b. Proceeds of $300,000