2. On January 1, Inglowood Cranes purchasod a crane for $198,000. Inglewood expects the crane to remain useful for eght years (600,000 ifts) and to have a residuar vaus of 530,060 . The company expects the crane to be used 140,000 lifs the frst year. Compute the first-year depreciation expense on the crane using the folowing methods: a. Straightine b. Units-ol-production (Round depreciation per unit to two docimala. Round depreciation expense to the neareat whole dollac). c. Double-doclining-balance (Round depreciation expense to the noavest whole dolae) a. Compute the frityear depreciation expense on the crane using the straight-ine method Begin by selecting the Sormula to calculate the company's frst-year depreciaton on the crane using the staight ine method. Then antar the amounts and cakcuate the decreciation for the frat yad b. Compute the frst-year depreciation expense on the crane using the unts-et-oroducton method. Before calculating the trit-year deprecialion on the crane uting the units of-producton method, calculate the depreciasion axpenite per whit Select the formula, ifien enter the arnourd and calculate the depreciation per unt. (Round dopreciation per unt to two decimals. X0C. Now select the formula, enter the amounts, and calcikite the companys fircyear depreciakon on the crane usha the urits-of production mathod. (Roound depreciation evpense to the naarest whiche delay.) c. Congole the first-year depreciaton expense on the crane using the double-declining bulance method c. Compute the firsl-year depreciation expense on the crane using the double-bicining-balance methiod Doube deding