Concord Company purchased equipment on January 1, 2020 for $100,000. It is estimated that the equipment will have a $4,000 salvage value at the end of its 5-year useful life. It is also estimated that the equipment will produce 120,000 units over its 5-year life.

Answer the following independent questions.

Concord Company purchased equipment on January 1, 2020 for $100,000. It is estimated that the equipment will have a $4,000 salvage value at the end of its 5-year useful life. It is also estimated that the equipment will produce 120,000 units over its 5-year life. Answer the following independent questions. Your answer has been saved. See score details after the due date. Compute the amount of depreciation expense for the year ended December 31, 2020, using the straight-line method of depreciation. Straight-line method $ per year Your answer has been saved. See score details after the due date. If 17,000 units of product are produced in 2020 and 23,000 units are produced in 2021 , what is the book value of the equipment at December 31, 2021? The company uses the units-of-activity depreciation method. Book value $ Your answer has been saved. See score details after the due date. If the company uses the double-declining-balance method of depreciation, what is the balance of the Accumulated DepreciationEquipment account at December 31, 2022? Accumulated Depreciation-Equipment $