On January 1, 2024, Ciely Corporation bought a 3-D printer for $87,000. Ciely plans to use the printer for 4 years or to print 1,000 objects, and estimates that it will be worth $8,000 at the end of its useful life. Ciely paid $2,500 to have the printer installed.
Required: Calculate the annual depreciation expense and book value at the end of each year for the 3-D printer.

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