Exercise 2: On January 1, 2018, the company purchased factory equipment for $160,000. It is estimated that the equipment will have a $20,000 residual value at the end of its 10-year useful life. If the company uses the straight-line method of depreciation. Required: 1. Compute depreciation expense for year 2018 and 2019. 2. Compute carrying value as of December 31, 2018 and 2019. 3. Assume the company purchased factory equipment on July 1, 2018, compute depreciation expense for year 2018 and 2019. 4. Assume the company purchased factory equipment on July 1, 2018, compute carrying value as of December 31, 2018 and 2019