Reference no: EM131762084

Graphics Service Co. purchased a new color copier at the beginning of 2014 for $38,140. The copier is expected to have a five-year useful life and a $6,080 salvage value. The expected copy production was estimated at 2,000,000 copies. Actual copy production for the five years was as follows:

Calculate the amount of gain or loss from the sale of the asset under each of the depreciation methods.

Double Declining Balance:

Units of Production:

2014 548,400 

2015 478,000
2016 375,500
2017 387,400
2018 240,100

Total 2,029,400

The copier was sold at the end of 2018 for $6,480.