10 points: STRAIGHT LINE DEPRECIATION (note: this is the same asset information as before) On May 1, 2020 Rats Be Gone, Inc purchased equipment for $230,000 that makes rat traps. RBG also paid $2,000 for freight and $8,000 for installation The equipment is expected to last 5 years and have a salvage value of $30,000. RBG expects the equipment to produce a total of 500,000 rat traps. **REQUIRED** Compute the answers for the dates and information requested below. A depreciation schedule is not required, but may be prepared and helpful to receive partial credit. It may also help you with questions to follow on this exam. Please show your calculations!! A) Depreciation expense for 2020 (year 1) B) Depreciation expense for 2021 C) Accumulated Depreciation at 12/31/22 D) Net Book Value 12/31/2023 E) Depreciation expense 2024 STRAIGHT LINE DEPRECIATION & MORE Refer to exam for information to complete below Compute the answers for the dates and information requested below. A depreciation schedule is not required, but may be prepared and helpful to receive partial credit. Pleas show your calculations. **hint - read what is being asked for carefully and for what time period a) Depreciation Expense 2020 [year 1) b) Depreciation Expense 2021 c) Accumulated Depreciation 12/31/2022 d) Net Book Value 12/31/2023 e) Depreciation Expense 2024