7. PPE (20 pt.). (1) A company purchased a truck on January 1, 2017 at a cost of $70,000. The truck had an estimated useful life of 5 years and an estimated salvage value of $10,000. The company uses the straight-line method of depreciation. Determine the book value of the truck on December 31, 2021. (5 pts.) (2) A company acquired equipment on April 1, 2020 for $160,000. The company estimates the useful life for the equipment is 400,000 units and the estimated salvage value is $60,000. If the company uses the units-of-activity method of depreciation, calculate the depreciation expense for 2020 if 8,000 units are produced. (5 pts.) (3) A company purchased factory equipment for S150,000. It is estimated that the equipment will have a $30,000 salvage value at the end of its estimated 5-year useful life. If the company uses the double-declining-balance method of depreciation, calculate the amount of annual depreciation recorded for the third year after purchase. (4 pts.) (4) On June 30, 2021, a company sold an old equipment for $24,000. The equipment originally cost $36,000 and had accumulated depreciation to the date of disposal of $15,000. (6 pts)