Case scenario: You are working at an industrial supplier, Great Gadgets. You are planning to purchase a truck for work purposes. The truck costs $40,000 to purchase. You plan to use it for five years. After five years, you can sell it for $3,500. You want to find the depreciation expense per year. You also want to find the book value at the end of each year for the next five years. You want to perform your analysis of two different depreciation methods: the straight-line method and the double declining balance method. Compare your results from the two methods. Create a reusable Excel spreadsheet to perform this analysis. 3. DDB method a. For year 1, find the accumulated depreciation at the beginning of the year, the book value at the beginning of the year, the book value at the end of th year, and the depreciation expense for the year. Use cell references and formulas; do not hard-code numbers. b. For year 2, find the accumulated depreciation at the beginning of the year, the book value at the beginning of the year, the book value at the end of th year, and the depreciation for the year. Use cell references and formulas; do not hard-code numbers. You should set up the formulas so that they can be copied and pasted for the subsequent years. Make sure there is a lower limit for the year-end book value so that it does not become lower than the residual value. c. For years 3-5, copy year 2's cells and paste them in the rows for years 3-5. If your answer is zero, enter "O". Accumulated Depreciation at Book Value at Book Value at Depreciation Year Beginning of Year Beginning of Year End of Year for Year 1 $ $ 40,000 $ 24,000 $ 16,000 2 16,000 $ 24,000 8,000 $ 16,000 X 3 $ 32,000 X $ 8,000 x 0 X 8,000 X 4 40,000 X $ 0 $ 0 $ $ $ 0 5 40,000 X 0 0 0 DDB rate 40 %