2. On January 1, Lakewood Cranes purchased a crane for $172,000. Lakewood expects the crane to remain useful for four years (600,000 lifts) and to have a 80,000 lifts the first year Read the requirements. a. Compute the first-year depreciation Begin by selecting the residual value of $40,000. The company expects the crane to be used for expense on the crane using the straight-line method the company's first-year depreciation the formula to calculate on the crane using the straight-line method. Then enter the amounts and calculate the depreciation for the first year 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 caiculate the depreciation per unit (Round depreciation per unit to two decimals, X.Xx) e Deprec Now, select the formula, enter the amounts, and calculate the company's first-year depreciation on the crane using the units-of-production Compute the first-year depreciation expense on the crane using the following methods method. (Round depreciation expense to the nearest whole dollar.) b. Units-of-production (Round depreciation per unit to two decimals. Round depreciation expense to the nearest whole dollar.) Units-of-production d epreciation Compute the first-year and second-year depreciation expense on the crane using the following method c. Compute the first-year and second-year depreciation expense on the crane using the double-declining-balance method. g-balance (Round expense to the nearest whole dollar.) Choose from any list or enter any number in the input fields and then continue to the next question. c. Compute the first-year and second-year depreciation expense on the crane using the double-declining-balance m Begin by selecting the formula to calculate the company's first-year and second-year depreciation on the crane using the double-declining enter the amounts and method. Then enter the amounts and calculate the depreciation for the first year. Finaily round the interim calculation, Round depreciation expense to the nearest whole dollar.) calculate the depreciation for the second year. (Enter "O" for items with a zero value. Do not - balance depreciation Yri Yr2 ( Choose from any list or enter any number in the input fields and then continue to the next