1. Tolbert Company purchased equipment on January 1, 2014 for $104,000. It is estimated that the equipment will have a $5,000 residual value at the end of its 8-year useful life. It is also estimated that the equipment will produce 100,000 units over its 8-year life. a. Calculate the amount of depreciation expense for the year ended December 31, 2014, using the straight-line method of depreciation. 2 Marks] b. If 16,000 units of product are produced in 2014 and 36,000 units are produced in 2015, what is the carrying amount of the equipment at December 31, 2015 using the units-of-production depreciation method? [4 Marks) c. If the company uses the double diminishing-balance method of depreciation, what will be the balance of the Accumulated Depreciation-Equipment account at December 31, 2016