Feb. 20th-Jones Company purchases a piece of equipment with a useful life of 550,000 units produced. The equipment cost $ 80,000 and has a residual value of $ 4,000. Using the Units of Production method calculate the depreciation expense for year 1-4. Units produced for year 1= 72,000 Year 2= 81,000 Year 3 =47,000 and Year 4-95,000. Year 1 Year 2 Year 3