7) Jack Lantern Ltd. (JLL) bought equipment for $336,000. JlL paid for the equipment using cash in the amount of $100,000 and signing a note payable for the balance. The estimated useful life was five years, and the estimated residual value at the end of the life of the equipment is $18,000. Assume that the estimated useful life is 500,000 units. Units actually produced were 155,000 in year 1 and 95,000 in year 2. Required (16 marks): a) Determine the appropriate amounts to complete the following schedule. Show computations, and round to the nearect dollar. b) Which method would result in the highest earnings per share for year 1? for year 2 ? c) Which method would result in the highest amount of cash outflows in year 1 ? Why