Assume that Sample Company purchased factory equipment on January 1, 2016, for $60,000. The equipment has an estimated life of five years and an estimated residual value of $6,000. Samples accountant is considering whether to use the straight-line or the units-of-production method to depreciate the asset. Because the company is beginning a new production process, the equipment will be used to produce 10,000 units in 2016, but production subsequent to 2016 will increase by 10,000 units each year.

Required:

Calculate the depreciation expense, accumulated depreciation, and book value of the equipment under both methods for each of the three years of its life.