Fundamental Depreciation Policies (Alternates are 8-36 through 8-38.) Suppose the printing department of Safeco Insurance acquired a new press for $280,000. The equipment's estimated useful life is 8 years and estimated residual value is $20,000. Prepare a depreciation schedule similar to Exhibit 8-2, p. 345, comparing straight-line and DDB. Show all amounts in thousands of dollars (rounded to the nearest tenth). Limit the schedule to the first 3 years of useful life. Show the depreciation for each year and the book value at the end of each year. (Note that this is a comparison of methods used for reporting to shareholders. Such methods may differ from those used for reporting to the income tax authorities.)