Cost $80,000 Residual Value $20,000 Useful Life 3 years a) Fill in a depreciation schedule assuming that the asset was purchased on Jan. 1 2020 b) Fill in a depreciation schedule assuming that the asset was purchased in August 2020 and the company follows half-year convention c) Assume asset was purchased on Jan. 1, 2020. At the end of year 2, the company incurred a capital expenditure that caused the following changes: New Value $47,000 New Useful Life 3 more years Residual Value Remains unchanged