Sale of Equipment Boviament was acquired at the beginning of the year at a cost of $612,500. The equipment was depreciated using the straight-line method based on an estimated eu te of years and an estimated residual value of 44.360. What was the depreciation for the first year? Round your answer to the nearest cent. b. Using the rounded amount from Porta in your computation, determine the gain(tom) on the sale of the equipment, uning it was sold at the end of year eight for $102,007, Round your answer to the rest cent and enter as a positive amount 6. Sourate the entry to record the sale an amount box does not require an entry leave and Hound your answers to the nearesten