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China Dragon purchased new restaurant equipment on September 1, 2024, for $8,000. Residual value at the end of an estimated five- year service life is

China Dragon purchased new restaurant equipment on September 1, 2024, for $8,000. Residual value at the end of an estimated five- year service life is expected to be $1,600. Required: Calculate depreciation expense using the straight-line method for 2024 and 2025, assuming a December 31 year-end. (Do not round your intermediate calculations. Round your final answers to the nearest whole dollar.) Year Depreciation Expense 2024 2025

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