Education Company purchased equipment on June 1, 2020. Assuming the cost of the equipment is $60,000, the residual value is $6,000, a useful life of 4 years and the use of the straight line method. The company's year end is December 31. Place your answer in the box to the far right hand side of the question. Show calculations in the space provided below each question. 1 What is depreciation expense for 20208 2 What is accumulated depreciation for 2022? 3 What is the depreciation rate in %? (%)