1. Total depreciation expense over 5 years will be more with the double-declining balance method than with straight line method. a. True b. False 2. Once a company selects the depreciation method they want to use, it must use the same method for all subsequent fixed asset acquisitions. a. True b. False 3. Mitchell's Motors purchased equipment for $72,000 on January 1, 2018. The equipment is expected to have a five-year life and a residual value of $6,000. Using the straight-line method for depreciation, determine the equipment's book value at December 31, 2019