2. An equipment is acquired on March 1, 2018 at a cost of $400,000 with an estimated useful life of eight years and an estimated salvage value of $80,000. Compute the depreciation expense and book value for the first three years at the end of December in each year using_double declining balance method What is the annual depreciation expense in the 1st year and eight year using straight line method Ans: Follow the format as indicated: Year Book value Depreciation Depreciation percent expense Accumulated Bookvalue Depreciation