On October 1, 2012, Freedom Communications purchased a new piece of equipment that cost $35,000 The estimated useful life is five years and estimated residual value is $8,000 What is the depreciation expense for 2012 if Freedom uses the straight-line method? Assume Freedom Communications purchased the equipment on January 1, 2012. If Freedom uses the straight-ine method for depreciation, what is the asset's book value at the end of 2013? Assume Freedom Communications purchased the equipment on January 1, 2012. If Freedom uses the double-declining-balance method, what is depreciation for 2013? Return to Freedom's original purchase date of October 1, 2012. Assume that Freedom uses the straight- line method of depreciation and sells the equipment for $22,400 on October 1, 2016. The result of the sale of the equipment is a gain (loss) of Reply