CP7-submit in Canvas The company purchased equipment for $300,000 and they estimated the residual value to be $20,000 at the end of the estimated service life of 8 years. For Straight-line depreciation method: 1. Determine Book value at the end of year 3$ For Double declining balance depreciation method: 2. Determine depreciation expense for year 2$ 3. Determine depreciation expense for year 3$ For Activity based depreciation method: Management estimated the machine's service life would be 16,000 hours; following is the activity for the first 3 years: 4. Determine depreciation expense for year 3$ 5. Determine Book value at the end of year 3$