34 ed out of On Equipment was purchased on March 1 of the year 20X7 for $124,700. The cost of installing and assembling the equipment totaled $2,300. The one-year insurance policy for the equipment of $1,800 was purchased on the same day. The equipment has an expected 5 years of useful life and a residual value of $3,500. The fiscal year end of the business is October 31. If the business uses the double diminishing method, record the following: 1. Depreciation expense for the year 20x7 (nearest dollar without comma, e.g. 15000): 2. Depreciation expense for the year 20x8 (nearest dollar without comma, e.g. 15000): 3. Depreciation expense for the year 2009 (nearest dollar without comma, e.g. 15000)