Chapter 7 In class assignment-Answers to be submitted in Canvas Determine the following for Straight-line, 190% Declining Balance, and Activity Based depreciation. T Corporation purchased equipment for S425,000. Residual value at the end of the estimated 5 years or 31,250 hours service life is expected to be $50,000. For Straight-line: 1. Book value at the end of year 3 S For 190% declining balance: 2. Depreciation expense for year 2 3. Depreciation expense for year 3 $__ S For Activity based: Year Hours used 6,500 6,300 6,700 6,000 5,750 4. Depreciation expense for year 3 s. Book value at the end of year 3 $_ S