Un Company sold office equipment with a cost of $44,960 and accumulated depreciation of $40,580 for $6,470. Required a. What is the book value of the asset at the time of sale? b. What is the amount of gain or loss on the disposar? c. How would the sale affect net income (increase, decrease, no effect) and by how much? d. How would the sale affect the amount of total assets shown on the balance sheet (increase, decrease, no effect) and by how m e. How would the event affect the statement of cash flows (increase, decrease, no effect) and in whot section? City Taxi Service purchased a new auto to use as a taxi on January 1, Year 1, for $29,400. In addition, City paid sales tax and title fees of $1,160 for the vehicle. The taxi is expected to have a five-year life and a salvage value of $5,490. Required: a. Using the straight-Aine method, compute the depreciation expense for Year 1 and Year 2. Note: Round your answers to the nearest whole dollar amoupt. b. Assume the auto was sold on January 1, Year 3, for $23,612. Determine the amount of gain or loss that would be recognized on the asset disposal. Note: Round the intermediate calculations to nearest whole dollar amount