On January 1, 2020, Daniel Company purchased equipment for $32,000 with a salvage value of $2,000 and an estimated useful life of 6 years; the company uses the straight-line method of depreciation and prepares its financial statement yearly on December 31. On April 1, 2025, the company retires the equipment. Depreciation expense for the year 2020 is: * O $3,000 O $6,000 O $5,000 $2,500 None of the above Depreciation expense for year 2025 is: * $5,000 $2,500 $1,250 0 $3,750 None of the above Accumulated Depreciation at retirement date: * $25,000 $30,000 $26,250 $28,750 None of the above In the retirement date the company incurred: * : Loss on disposal of $3,750 Loss on disposal of $5,750 Gain on disposal of $5,750 No gain no loss O None of the above