Lynch Company owns and operates a delivery van that originally cost $ 46,400. It assumes an expected salvage value of 5,000 at the end of its estimated six-year useful life. a. Compute depreciation for year 1 and year 2 using straight line depreciation b. Compute depreciation for year 1 and year 2 using double declining balance depreciation c. If straight line depreciation is used to compute the depreciation, how much gain or loss is reported at the end of year 1 if the sales price of the asset is: $ 24000