depreciation straight line double declining loss gain 449347

Teague Company purchased a new machine on January 1, Year XXX1, at a cost of $150,000. The machine is expected to have an eight year life and a $15,000 salvage value. The machine is expected to produce 675,000 finished products during its eight year life. Smith produced 70,000 units in Year XXX1 and 110,000 units during Year XXX2. Required: a) Determine the amount of depreciation expense to be recorded on the machine for the years XXX1 and XXX2 using straight line method, units of production method and double declining balance method of depreciation. b) If Teague Company sells the machine on January 1, Year XXX3 for $120,000, how much loss or gain would that result in using straight line method, units of production method and double declining balance method of depreciation.