1.) Springtime Inc. purchased a new piece of equipment for $800,000 on Jan 1, 2021. The equipment's useful life is 15 years and the estimated salvage value is $50,000. a) Using straight-line depreciation, calclate the annual deprecation expense, the accumulated depreciation on December 31st of each year, and the net book value on December 31st of each year, for all 15 yrs. b) Using the calculations from #1 above, what is the Depreciation Expense for the year ending 12/31/25? c) Using the calculations from #1 above, what is the net book value on 12/31/35? d) Using the information from #1 above, what would be the gain or loss on sale of the asset if it were sold for $310,000 on Jan 1, 2031?