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A company acquires a new piece of equipment on January 1, 2020. The useful life is 3 years and the equipment has a cost

A company acquires a new piece of equipment on January 1, 2020. The useful life is 3 years and the equipment has a cost of $250,000 with salvage value of $15,000. a. What is the depreciation expense for each year of the 3 years of the equipment's life? Show all work. b. If the company utilized a half year convention for all acquisitions of PPE, what would depreciation have been in year 1?

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