A company purchased equipment worth $250,000. It will be depreciated using the straight-line depreciation over 8 years. Assume a tax rate of 20%.

1. What is the book value of this asset at the end of years 1-8?
2. What is the depreciation expense in each of the years 1-8?
3. If the equipment can be sold for $5,000 at the end of Year 5, what is the after-tax salvage value?
4. If the equipment can be sold for $80,000 at the end of Year 5, what is the after-tax salvage value?