Bob Seger Company purchased equipment on January 1, 2021 for $100,000. It is estimated that the equipment will have a $5,000 salvage value at the end of its 5-year useful life. It is also estimated that the equipment will produce 100,000 units over its 5-year life. You must show all of your calculations. Instructions Answer the following independent questions. 1. Compute the amount of depreciation expense for the year ended December 31, 2021, using the straight-line method of depreciation. 2. If 15,000 units of product are produced in 2021 and 20,000 units are produced in 2022, what is the book value of the equipment at December 31, 2022? The company uses the units-of- activity depreciation method