2. On January 1, Lakewood Cranes purchased a crane for $260.000. Lakewood expects the crane to remain usetul for ten years (2.000,000 itts) and to have a residual value of $20,000. The company expects the crane to bo usod 120,000 lifts the first year. 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 deprociation exponse to the nearest whole dollar.) c. Double-declining-balance (Round depreciation expense to the nearest whole dollar.) a. Compule the first-year depreciation expense on the crane using the straight-line method. Bogin by selecting the formula to caiculate the company's first-year depreciation con the crane using the straight-line method. Then enter the amounts and caicilate the depreciation for the first year. b. Compute the first-year depreciabion expense on the crane using the units-of-production method. Before calculating the first-year depreciation on the crane using the units-ot-production mothod, calculate the dopreciation expense per unit Solect the formula, then enter the amounts and calculate the depreciation per unit. (Round deoreciation per unit to two decimals. X.XXX.)