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Please follow these instructions carefully. As you save your work, use the file name: ACC121lastname-comp prob 2.doc You will work on this problem on your own time. When completed your work will be submitted to your instructor through an Assignment Link provided in the weekly Folder for seminar 6 Problem: The Pablo Paving Company purchased a new bulldozer for 250,500 at the beginning of Year 1. It is estimated that the residual value will be 25,000 and have a useful life of 6 years. The Bulldozer is expected to last 10,000 hours In year 1 it was used 1,800 hours, in year 2 it was used 2000 hours; year 3, 2,500 hours; 1,500 hours in year A; 1,200 hours in year 5; and 1,000 hours in year 6 Required 1) Compute the annual depreciation and carrying value for the new crane for each of the 6 years under each of the following methods: a) straight-line, b) production, c) double declining-balance. Round percentage to 2 decimal places (for example, like this: 22.22 2) If the crane is sold for 250,000 at the end of year 3, what is the gain loss under each of the three methods? 3) How does each method affect the firm's profitability? Please explain this as clearly as possible For requirement 1, set up the problem like this: Method of Depreciation: a) Straight line Depreciable amount Accumulated Depreciation Car ng value Year Annual Depreciation Expense