On 1st of January 2018 JANDU Ltd. purchased a new truck for the delivery of the merchandises to its clients. The price paid was $180,000. The residual value of the truck was estimated to $20,000 and the useful life to 8 years. On 31st of December 2021 the company sold the truck for $105,000. On 31st of December, JANDU, Ltd obtained a 3 years loan from the bank for $1,300,000. Interest rate is 5%. The company will face monthly installment payments of $6,000 as from January 1st 2020. 1. Calculate the gain or loss obtained for the sale of the truck considering that the company used the straight-line depreciation method. Explain your calculation and the steps followed. 20 points 2. Calculate the gain or loss obtained for the sale of the truck considering that the company used the double declining balance method for depreciation purposes. Explain your calculation and the steps followed. 20 points Exercise 2 On January 1 2028 JANDU Ltd purchase a machine for $80,000, with no residual value and a useful life of 8 years On December 2020 the company revised the useful life to 6 years in total. Prepare a complete depreciation schedule for the machine using the straight line method for the entire life of the asset (30 points)