QUESTION 1 Please help me with my homework assignment. This is question 1 and 2. Thank you and have a good day. 2020 An asset has an initial cost of $65,000 and an estimated salvage value of $5,000 after 12 years. The amount of accumulated depreciation after 5 years if straight-line depreciation is used is closest to: a. $25,000 Cb. $15,000 C. $12,500 C d. $37,500 QUESTION 2 An asset with a life of 7 years was purchased 4 years ago at a cost of $10,000. It now has a book value of $5,200 based on straight-line depreciation. The asset's expected salvage value is closest to: Ca. $1,200 C b. $1,000 C C. $1,600 Cd. $2,000