Problem 1-Complete this problem on Depreciation Show as much work as possible so that you can receive partial credit incase your answer is wrong Cost of the equipment is $21,000 Salvage (residual) value is 1,000 Life of the machine in years is 4 years Life of the machine in hours is 100,000 hours A. Calculate Straight-line Depreciation Expense for years 1 and 2 B. Calculate Double Declining Depreciation Expense for years 1 and 2 C. Calculate depreciation expense using units of production 10,000 hours were used in year 1 and 15,000 hours were used in year 2