0 Required information [The following information applies to the questions displayed below.) On January 1, 2018, Hobart Mfg. Co. purchased a drill press at a cost of $27,200. The drill press is expected to last 10 years and has a residual value of $5,200. During its 10-year life, the equipment is expected to produce 500,000 units of product. In 2018 and 2019, 21,000 and 76,000 units, respectively, were produced. Required: Compute depreciation for 2018 and 2019 and the book value of the drill press at December 31, 2018 and 2019, assuming the straight- line method is used 2018 2019 Depreciation Book Values