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At the beginning of 2015. Copeland Drugstore purchased a new computer system for $52,000. It is expected to have a five-year life and a $7,000 salvage value Required a. Compute the depreciation for each of the five years, assuming that the company uses (1) Straight-line depreciation (2) Double-declining balance depreciation b. Record the purchase of the computer system and the depreciation expense for the first year under straight-line and double- declining balance methods in a financial statements model like the following one For each of the following exercises and problems that are assigned as homework, record the journal entry and T-account solution that matches the equation solution you prepared on Connect. E6-9 PURCHASE S-L YEAR 1. DDB YEAR 1. (ACCUM. DEPR.) COMMON STOCK CASH REVENUE DIVIDENDS RETAINED EARNINGS EXPENSE COMPUTER