ALL YEAR. Chapter 8 Handout Dr. Griffin purchased a dentist's drill at a cost of $40,000. The drill has an estimated life of four years and an estimated salvage value of $4000. The drill, which is expected to last 3600 hours, was operated 1200 hours in year 1: 800 hours in year 2: 1000 hours in year 3and 600 hours in year 4. Make a table (one for each method) showing the annual depreciation expense and book value for the drill for each of the first four years of operation using (1) the straight-line method; (2) the units-of-production method; and (3) the double-declining balance method. You should have three tables when you are finished. On the first day of the year, Sproatt Company disposed of a truck that had a cost of $20,000 and accumulated depreciation of $15,000. Prepare journal entries to record the disposal under each of the following assumptions: (A) The truck was wrecked and was a total loss. There were no insurance proceeds. (B) Drew purchased the truck for $2000 in cash. (C) Charlotte purchased the truck for $8000 in cash