16. S During the first two years, the company drove the truck 103,000 in year 1 and 101,000 miles in year 2, to deliver merchandise to its customers. The company originally purchased the truck for $175,000. If the truck has an estimated life of 5 years or 500,000 miles, with an estimated residual value of $40,000, what amount of depreciation expense should the company record in the second year using the activity-based method? 17. $ The company purchased equipment at the beginning of Year 1 for $400,000. In Years 1-4, the company depreciated the asset on a straight-line basis with an estimated useful life of 10 years and a $30,000 residual value. What is the BOOK VALUE of the equipment at the end of year 4? Use the following to answer questions 18-19 The company purchased equipment for $400,000 on January 1, year 1. The equipment is expected to have a 5-year life, with a residual value of $50,000 at the end of its service life. 18. $ Using the 190%-declining balance method, determine depreciation expense for year 2. 19. $ Using the straight-line method, determine book value at the end of year 2. Use the following to answer questions 20 - 22 The company is in the process of closing its operations. It sold its 5-year-old Front-end loader for $95,000. The loader originally cost $200,000 and had an estimated useful life of 8 years and an estimated residual value of $25,000. The company uses straight-line depreciation for all equipment. 20. $ Calculate the book value of the loader at the end of the 5th year. 21. $ What was the gain or loss on the sale of the loader at the end of the 5th year; (if loss, put - in front of your answer)? 22. $ Assume instead the company had originally estimated the Equipment had an estimated useful life of 7 years instead of 8 years. What would be the gain or loss on the sale of the loader at the end of the 5th year (if loss, put-in front of your answer)?