Cold As Iced Coffee purchased a coffee drink machine on January 1, 2024, for $23,000. Expected useful life is 10 years or 50,000 drinks. In 2024, 11,000 drinks were sold, and in 2025, 18,000 drinks were sold Residual value is $3,000 Read the requirements. 1. Determine the depreciation expense for 2024 and 2025 using the following methods: a. Straight-line b. Units-of-prodarction c. Double-declining-balance 2. Prepare a schedule that shows annual depreciation expense, accumulated depreciation, and book value for 2024 and 2025 using the fnllawinn mathadns 2. Prepare a schedule that shows annual depreciation expense, accumulated depreciation, and book value for 2024 and 2025 using the following methods: a. Straight-line b. Units-of-production c. Double-declining-balance 3. Assume that Cold As Iced Coffee sold the equipment for $18,000 cash on July 1,2026 . Assume that management has depreciated the equipment by using the double-declining-balance method. Record Cold As Iced Coffee's depreciation for 2026 and the sale of the equipment on July 1, 2026. Requirement 1. Determine the depreciation expense for 2024 and 2025 using the following methods: (a) Straight-line (SL), (b) Units of production (UOP), and (c) Double-declining-balance (DDB) For each method (starting with (a) the straight-line method), select the appropriate formula needed to compute annual depreciation and then determine depreciation expense under that method for 2024 and 2025 . (Round any depreciation expense per unit amounts to the nearest cent and all other amounts to the nearest whole dollar)