Moped, Inc. purchased machinery at a cost of $22,000 on January 1, 2006. The expected useful life is 5 years and the asset is expected to have a salvage value of $2,000.

If Moped, Inc. uses straight-line depreciation, what is the firm's depreciation expense for the year ended December 31, 2008?

If Moped, Inc. uses straight-line depreciation, what is the accumulated depreciation for this asset on December 31, 2008?

If Moped, Inc. uses straight-line depreciation, what is the firm's gain or loss if the machinery is sold for $11,000 on December 31, 2008?

If Moped, Inc. uses the double-declining balance method, what is the firm's depreciation expense for the year ended December 31, 2007?

If Moped, Inc. uses the double-declining balance method, what is the accumulated depreciation on December 31, 2007?