18 Question 1 Cobalt Manufacturing purchased equipment and a delivery vehicle on January 1, 2019. The equipment cost $65,000 and has an estimated useful life of 8 years with a residual value of $9,000 The delivery vehicle cost $150,000 and has an estimated life of 4 years or 200,000 kilometres and a residual value of $14,000. The delivery truck is expected to be driven 35,000 and 40,000 kilometres in 2019 and 2020, respectively. Required 1. Cobalt has decided to depreciate the equipment using either the straight line method or double declining method. Calculate depreciation for the equipment for 2019 and 2020 using the straight-line method AND the double declining method. 2. Cobalt has decided to depreciate the delivery truck using the units-of-production method. Calculate depreciation for the delivery truck for 2019 and 2020