Equipment was purchased for the cost of $142,300. The equipment was purchased on March 1. The company's fiscal year end is October 31. The equipment is estimated to have a five-year life and a $7,635 residual value. The diminishing balance method, the straight-line rate, is used is used to depreciate the asset. 1. Depreciation expense for the current year (nearest dollar without comma, e.g. 15000): 2. Depreciation expense for the next year (nearest dollar without comma, e.g. 15000): Equipment's carrying amount, next year ending balance sheet (nearest dollar without comma, e.g. 15000)