3-Ch 3 Saved Mean Beans, a local coffee shop, has the following assets on January 1, 2023. Mean Beans prepares annual financial s has a December 31, 2023 year-end. The company's depreciation policy is to use the straight-line method to depreciate a. On January 1, 2023, purchase equipment costing $16,500 with an estimated life of five years. Mean Beans will scrap after five years for $0. b. On July 1, 2023, purchase furniture (tables and chairs) costing $19,100 with an estimated life of ten years. Mean Bear that it can sell the furniture for $2,800 after ten years. c. On January 1, 2021, Mean Beans had purchased a car costing $43,250 with an estimated life of eight years. Mean Be that it can sell the car for $8,650 after eight years. Required: 1-a. For each transaction, calculate the current year's annual depreciation expense. a Annual depreciation expense on equipment b. Annual depreciation expense on furniture c Annual depreciation expense on car