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A company purchases equipment costing $60 000 on January 1, which it expects to last for 12 years and to have a salvage value of $4000. The end of the fiscal year is December 31. A. Prepare a schedule of depreciation for the first five years using the straight-line method. (5 Application marks) Straight-line Depreciation Depreciation Balance 60000 Year 1 4 5 B. For the same equipment, prepare a schedule of depreciation for the first five years using the declining-balance method. Canada Revenue Agency's prescribed rate for depreciation is 30%. (5 Application marks) Year Declining Balance Depreciation Balance 60000 1 | | | 4 5