Current Attempt in Progress Crane Company acquires equipment at a cost of $40,300 on January 3, 2021. Management estimates the equipment will have a residual value of $4,300 at the end of its 2-year useful life. Assume the company uses the straight-line method of depreciation. Calculate the depreciation expense for each year of the equipment's life. Crane has a December 31 fiscal year end. Depreciation expense $