value of $46,320. a. What was the depreclation for the first year? Reund your answer to the nearest cent. nearest cent. Enter your answer as a posithe amount. Equipment was acquired at the beginning of the year at a cost of $537,500. The equipment was depreciated using the straight-line methoc value of $46,320. a. What was the depreciation for the first year? Round your answer to the nearest cent. b. Using the rounded amount from Part a in your computation, determine the gain or loss on the sale of the equipment, assuming it was nearest cent. Enter your answer as a positive amount. c. Journalize the entry to record the sale. If an amount box does not require an entry, leave it blank, Round your answers to the nea value of 446,320 . a. What was the depreciation for the fint year? Round your answer to the nearest cent. nearest cent. Enter your answer as a positive amount