Question: Question 1 options: Use the information below to answer the questions that follow. Enter your answers using digits only - no dollar signs, commas, or

Question 1 options:
Use the information below to answer the questions that follow. Enter your answers using digits only - no dollar signs, commas, or decimal points. The business's year-end is December 31.
Cost of equipment =325000
Useful life in years =8
Residual value =25000
Date purchased = July 31
What is the depreciation expense per year?
What is the depreciation expense per month?
What is the depreciation expense in the year of purchase?

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