Which of the following statements is false? Multiple Choice O The book value at the end of an asset's useful life will be the same under all the depreciation methods allowed under GAAP. O The balance in the accumulated depreciation account will be the same at the end of an asset's useful life under all the methods allowed under GAAP. O The annual depreciation expense and year-end book values will differ under the various depreciation methods over the life of the asset. O Once a company selects a depreciation method, it must use this method for all depreciable assets. Carter Company disposed of an asset at the end of the eighth year of its estimated life for $22,500 cash. The asset's life was originally estimated to be 10 years. The original cost was $67,600 with an estimated residual value of $6,600. The asset was being depreciated using the straight-line method What was the gain or loss on the disposal? Multiple Choice 0 $16,400 gain. 0 $3,700 gain. 0 $22,500 gain. 0 $10,300 loss