Eifa L.td. purchascd equipenent on Jamuary 1,2022 for $160,000. It is entimated that the equipment will have a $20,000 salvage value at the end of its 10 -year useful life. It is also estimated that the equipment will produce 1. Assume the company uses the double-declining-balance method of depreciation. What was the amount of depreciation expense for the year cnded December 31, 2023? (2 points) 2. If 10,000 units of product are produced in 2022 and 24,000 units are produced in 2023 , what was the books. Value of the equipment on December 31,2023 ? The company uses the units-of-activity depreciation method, (3 points) 3. Assume the company uses the straight-line method of depreciation. On March 31 , 2023, the equipment was sold for $140,000 cash. a) What was the updated total accumulated depreciation at the time of the sale? (4 points) b) If the appropriate entry was already recorded to update depreciation, what was the journal entry record the eale af the eauinment on March 31. 2023? (4 points)