Exercise 3: A company purchased office equipment for $50,000 and estimated a residual value of $10,000 at the end of its 5-year useful life. Required: 1. Assume the company uses the straight-line method of depreciation: 1.1 If the company purchased office equipment on January 1, 2018, compute depreciation expense for year 2018 and 2019 and compute carrying value on December 31, 2018 and 2019. 1.2 If the company purchased office equipment on October 1, 2018, compute depreciation. expense for year 2018 and 2019 and compute carrying value on December 31, 2018 and 2019. 2. Assume the company use the double-declining-balance method of depreciation: 2.1 If the company purchased office equipment on January 1, 2018, compute depreciation expense for year 2018 and 2019 and compute carrying value on December 31, 2018 and 2019. 2.2 If the company purchased office equipment on April 1, 2018, compute depreciation expense for year 2018 and 2019 and compute carrying value on December 31, 2018 and 2019