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 five-year useful life. Questions a. Compute depreciation for year 1 and year 2 using straight line method (4 points) b. Compute depreciation for year 1 and year 2 using double declining balance (4 points) c. If the double-declining balance method of depreciation is used to compute the depreciation, how much gain or loss is reported at the end of year 2 if the sales price of the asset is: (2 points) $ 14000 (2 points) $ 40,000 (2 points) $ 25,000