Required information Exercise 8-9A Computing and recording straight-line versus double-declining-balance depreciation LO 8-2, 8-3 The following information applies to the questions displayed below.) At the beginning of Year 1. Copland Drugstore purchased a new computer system for 95,000. It is expected to have a five-year life and a $15,000 salvage value. Exercise 8-9A Part a Required a. Compute the depreciation for each of the five years, assuming that the company uses (1) Straight-line depreciation. Straight line depreciation Required information (2) Double-declining balance depreciation. Double- Declining Year 1 Year 2 Year 3 Year 4 Year 5 Exercise 8-15A Revision of estimated useful life LO 8-7 On January 1 Year 1, Poultry Processing Company purchased a freezer and related installation equipment for $60,300. The equipment had a three-year estimated life with a $3,900 salvage value. Straight-line depreciation was used. At the beginning of Year 3, Poultry Processing revised the expected life of the asset to four years rather than three years. The salvage value was revised to $2,900, Required Compute the depreciation expense for each of the four years, Year 1-Year 4. Depreciation Expense Your Year 2 Year 3 Year 4 Bill's Wrecker Service has just completed a minor repair on a tow truck. The repair cost was $1,060, and the book value prior to the repair was $4,850. In addition, the company spent $6,500 to replace the roof on a building. The new roof extended the life of the building by five years. Prior to the roof replacement, the general ledger reflected the Building account at $86,900 and related Accumulated Depreciation account at $40,300. Required After the work was completed, what book value should appear on the balance sheet for the tow truck and the building? Book Value Tow Truck Building