On 03 January 2014 Montello corporation limited purchases a delivery truck for $250,000. The truck has a salvage value of $20,000 and is expected to be driven for five years. Montello uses the double decline balance method for depreciation after five years delivery truck sold at $ 25,000. Required: Calculate the annual depreciation expense for each year and also prepare depreciation schedule for five years. Calculate gain or loss on disposal, also create entries for gain or loss on disposal of truck.