DEPRECIATION 20 POINTS On January 1, 2018, Quick Stop, Inc. purchases equipment for $20,000. The salvage value of the equipment is estimated to be $2,000 and the estimated useful life is six years. Quick Stop uses the straight line method for calculating depreciation. The equipment is placed into use on January 1, 2018 SECT TO 1. What is the depreciation expense for the year ended December 31, 2018? 2. What is the accumulated depreciation balance on December 31, 2020? 3. What is the netbook value of the equipment on December 31, 20227 Show your calculations neatly in the space below. No work shown no credit. You may create a schedule, or use a different approach to solving the questions above Now suppose the asset was placed in service on 7/1/18 instead of 1/1/18. What would the depreciation expense be for 2018 be