Question 1 Jazz Manufacturing Limited purchased a new vehicle on January 1, 2019 for $60,000. The vehicle has a useful life of 5 years or 200,000km and management estimates they will be able to sell it for $5,000 at the end of its useful life. The vehicle was driven 25,000 km in 2019, 20,000 km in 2020, 24,000 km in 2021 and 26,000 km in 2022. Required: 1. Calculate the depreciation expense for 2019, 2020, 2021 & 2022 using a) straight line method b) Units of production method and c) Double-declining balance method 2. Assume that Jazz Manufacturing sold the vehicle on January 1, 2022 for $45,000. What is the gain or loss on the sale? 3. Prepare the journal entry to record the sale of the vehicle on January 1, 2022