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Question 11 (5 points) Saved Assume the following details for equipment that was purchased on January 1, 2019: $985,000 9 years 750,000 units $25,000 Purchase Price: Estimated Useful Life: Estimated Useful Life: Estimated scrap (residual) value: Production in year 1 (2019) Production in year 2 (2020) Production in year 3 (2021) 55,800 units 65.200 units 75,000 units Production 65,200 units (2020) Production 75,000 units (2021) The company follows the straight line method of depreciation for this asset. It is sold on July 1, 2024 for $300,000. Required: 1. Calculate the annual depreciation expense for this asset. (2 marks) 2. Calculate the carrying amount on July 1, 2024, the date of the sale. (2 marks) 3. Calculate the gain or loss that will be recorded when the asset is sold. (1 mark) Show all of your work. Use the following symbols to show your calculations: add (+), subtract (-), multiply (x), divide (1) All final answers should be rounded to the nearest whole dollar (example: round $15,369.35 to $15,369)