2. On January 1, Inglewood Cranes purchased a crane for $200,000 Inglewood expects the crane to remain useful for five years (1.600,000 lits) and to have a residual value of $40,000. The company expects the crane to be used for 100.000 lifts the first year Read the remant he a. Compute the first-year depreciation expense on the crane using the straight-line method. Begin by selecting the formula to calculate the company's first-year depreciation on the crane using the straight-line method. Then enter the amounts and calculate the depreciation for the first year. Useful life Cost 200,000 Residual value 40.000 b. Compute the first-year depreciation expense on the crane using the units-of-production method Before calculating the first-year depreciation on the crane using the units-of-production method, calculate the depreciation expense per unit. Select the formula, then enter the amounts and calculate the depreciation per unit Round depreciation per un to two decimals, XXX) Cost Residual value Useful in uns Depreciation per unit Straight Ine depreciation 32.000 her in the edit nields and then click Check Answer :0 ation cald atio epre the Compute the first-year depreciation expense on the crane using the following methods: a. Straight-line b. Units-of-production (Round depreciation per unit to two decimals. Round depreciation expense to the nearest whole dollar.) Compute the first-year and second-year depreciation expense on the crane using the following method: c. Double-declining-balance (Round depreciation expense to the nearest whole dollar.) Print Done 2. On January 1, Inglewood Cranes purchased a crane for $200,000 Inglewood expects the crane to remain useful for five years (1.600,000 lits) and to have a residual value of $40,000. The company expects the crane to be used for 100.000 lifts the first year Read the remant he a. Compute the first-year depreciation expense on the crane using the straight-line method. Begin by selecting the formula to calculate the company's first-year depreciation on the crane using the straight-line method. Then enter the amounts and calculate the depreciation for the first year. Useful life Cost 200,000 Residual value 40.000 b. Compute the first-year depreciation expense on the crane using the units-of-production method Before calculating the first-year depreciation on the crane using the units-of-production method, calculate the depreciation expense per unit. Select the formula, then enter the amounts and calculate the depreciation per unit Round depreciation per un to two decimals, XXX) Cost Residual value Useful in uns Depreciation per unit Straight Ine depreciation 32.000 her in the edit nields and then click Check Answer :0 ation cald atio epre the Compute the first-year depreciation expense on the crane using the following methods: a. Straight-line b. Units-of-production (Round depreciation per unit to two decimals. Round depreciation expense to the nearest whole dollar.) Compute the first-year and second-year depreciation expense on the crane using the following method: c. Double-declining-balance (Round depreciation expense to the nearest whole dollar.) Print Done