Depredation by Two Methods; Sale of Foced Asset New lithooraphic equipment, acquired at a cost of $812,500 on March 1 of Year 1 (beginning of the fiscal year), has an estimated useful kife of five years and an estimated residual value of 569,900 . The manager requested information regarding the effect of alternative methods on the amount of depreciation expense each year. On March 4 of Year 5 , the equipment was sold for $119,000. Required: 1. Determine the annual depreciation expense for each of the estimated five years of use, the accumulated depreciation at the end of each year, and the book value of the equipment at the end of each vear by the following methods: a. Straight-line method b. Doubes dechinng varance method 2. Joumalize the entry te record the sale assuming that the manager chose the double-declining-balance method. If an amount box does no require an entry, leave it blank. 3. Journalize the entry to record the sale in (2) assuming that the equipment was sold for $102,100 instead of $119,000, If an amount box does not reguire an entry, leave it blank