Question 17 options: 8-7.

Disposal of asset. Dump It is selling a machine that no longer is large enough for the production requirements. Dump It has had the machine for 3 years and has depreciated it using the straight-line method. Original cost had been $98,000, and salvage was estimated at $6,000. The machine had been expected to last for 8 years. (in all answers round to nearest dollar; do not use "$" or commas in your answer)

1. Calculate the amount of annual depreciation on the asset.

2. Calculate the amount of accumulated depreciation on the asset at the end of the third year.

3. Calculate the book value of the asset at the end of the third year.