Please write out work and formulas (not just excel sheets)

4. Depreciation (20 points) Your company has just purchased a new piece of equipment for $1,500,000. The equipment has a useful life of 5 years and a $500,000 salvage value. You will begin depreciating the equipment in year one. a) What is the depreciation in years 1 through 5 using straight line depreciation? (5 points) b) How much is cumulatively depreciated in part a? (2 points) c) What is the depreciation in years 1 through 5 using declining balance depreciation? (5 points) d) How much cumulatively depreciated in part c? (2 points) e) If you could choose which depreciation method to use, which would you select and why? 6 points)