1. Aliquippa Co. purchased equipment at the beginning of 2017 for $60,000. In addition, Aliquippa paid $2,000 for delivery of the equipment to its plant and $1,000 for installation of the equipment. The equipment has an estimated residual value of $7,000 and an estimated life of seven years or 70,000 hours of operation. Aliquippa is looking at alternative depreciation methods for the equipment. Calculate the following: A. The depreciation expense for the year 2017 using the straight-line depreciation method. The total accumulated depreciation at December 31, 2018, using the units-of-production depreciation method. Assume that the equipment is operated for 15,000 hours in 2017 and 12,000 hours in 2018 B. The book value of the equipment at December 31, 2017, using the double-declining-balance depreciation method C. D. Which of the above methods is considered accelerated? What are the advantages of using an accelerated depreciation method as compared to the straight-line method for lowering taxes early in the life of the equipment? E. 2. Tasty Catering purchased a van on January 1, 2015, for $48,000. The company decided to depreciate the van over a five-year period using the straight-line method. The company estimated its residual value at $3,000. Show how the costs should be presented on Tasty's balance sheet and income statement for the full year ended June 30, 2017Label the statements properly 3. Assume that Banker Company purchased a new machine on January 1, 2017, for $96,000. The machine has an estimated useful life of nine years and a residual value of $6,000. Banker has chosen to use the straight-line method of depreciation. On January 1,2019, Banker discovered that the machine would not be useful beyond December 31, 2022, and estimated its value at that time to be $4,000 Required 1. Calculate the depreciation expense, accumulated depreciation, and book value of the asset for each year 2017 to 2022 2. Was the depreciation recorded in 2017 and 2018 wrong? If so, why was it not corrected