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On January 2, Year 1, Long Company purchased equipment costing $10,800. The equipment estimated salvage value of $1.440 and an estimated useful ute of 9 years Long Company uses straight-line depreciation. On January 5 of Year 5, new information suggests that the equipment will have a total useful life of 8 years and a revised salvage value of $1,080. Required: 1 Compute de sciation expense for Year 5. 2. Compute the book value of the equipment at the end of Year 5. EU 1. Depreciation expense for Year 5. 2. Book value at the end of Year 5: so SO