Question 1 (8 marks) Functional Manufacturing purchased equipment and a utility vehicle on January 1, 2019. The equipment cost $90,000 and has an estimated useful life of 8 years with a residual value of $15,000. The delivery vehicle cost $180,000 and has an estimated life of 5 years or 250,000 kilometres and a residual value of $17,000. The delivery truck is expected to be driven 25,000 and 35,000 kilometres in 2019 and 2020, respectively. . Required Functional has decided to depreciate the equipment using either the straight-line method or double declining method. Calculate depreciation for the equipment for 2019 and 2020 using the straight-line method AND the double declining method. Functional has decided to depreciate the delivery truck using the units-of- production method. Calculate depreciation for the delivery truck for 2019 and 2020. 2019 Depreciation 2020 Depreciation Requirement #1 Equipment - Straight-line method Equipment - Double Declining method Requirement #2 Delivery Truck - Units-of-Production