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34. Office Supply Corp. had gross sales revenue of $1,460,000, cost of goods sold of $784,400, sales returns and allowances of $38,000, and allowed sales discounts of $22,000. Compute the gross profit percentage (rounded). a. 44% b. 54% c. 55% d. 51% Use the following information for questions 42-44. On January 1, 2015, Sundry Corp. purchased equipment for $55,000. It was expected to last 8 years, after which it will be sold for $3,000. It is expected to be used for a total of 8,000 machine hours, and was used for 900 hours during the year ended December 31, 2015. 42. The depreciation expense for 2015 using the straight-line method will be: a. $5,850 b. $6,500 c. $6,875 d. $7,250 43. The depreciation expense for 2015 using the units-of-production method will be: a. $5,850 b. $6,188 c. $6,500 d. $13,750 44. The depreciation expense for 2015 using the double diminishing-balance method will be: a. $6,875 b. $12,375 c. $13,000 d. $13,750