8. A company purchased a computer system on January 1. Its cost was $55,000 and it had an estimated salvage value of S10,000. It was expected to have a useful life of 5 years. Required: a. To the nearest dollar, what's the depreciation for year 1 using double declining balance depreciation? (3 Points) b. Prepare the journal entry for the depreciation calculated in the Question a (2 Points)