1. T&K Services purchased equipment for $40,000. The equipment was expected to be used for 3 years, and have a salvage value of $400. 1. Using the straight-line method, what is the yearly depreciation provision for the equipment? (2 marks) II. Show the value of the equipment after each year of depreciation. (5 marks) 2. Flan Ltd. owns two Trucks, which were purchased as follows: = January 1, 2016; Truck 1; cost $80,000 January 1, 2018; Truck 2; cost $60,000 Trucks are depreciated using a 40% reducing balance method. Calculate the depreciation provision for the Trucks for each year 2016 to 2018. (8 marks)