Green Bay Mfg.Co. purchased equipment on January 1, 2010. The equipment will have a $20,000 residual value. The cost of the equipment is as follows: Purchase price - $100,000 Sales taxes paid - $5,000 Installation costs - $15,000 Repair of damage during installation - $10,000 Service life in years - 5 years Determine the depreciation expense for the year if the equipment was purchased on January 1, 2010. Total cost of the asset Straight Line 2010 2011 2012 Double Declining Balance 2010 2011 2012 Determine the depreciation expense for the year if the equipment was purchased on October 1, 2010. Straight Line 2010 2011