4 Problem 1 15 points (5 points each) 5 Complete this problem on Depreciation 6 Show as much work as possible so that you can receive partial credit incase your answer is wrong 7 8 Cost of the equipment is $41,000 9 Salvage (residual) value is $1,000 10 Life of the machine in years is 5 years 11 Life of the machine in hours is 100,000 hours 12 13 A Calculate Straight line Depreciation Expense for years 1 and 2 (5 points) 14 15 16 17 18 19 20 21 B. Calculate Double Declining Depreciation Expense for years 1 and 2 22 (5 points) 23 24 25 26 27 28 C. Caciulate depreciation Expense using Units of Production 129 for year 1 (20,000 hours were used) and year 2 (30,000 hours were used) (5 points) 30