help with problem 2 please

B D G H 66 67 Problem 2: Long-Term Assets 68 69 Hinshaw Company recently purchased a portfolio of Long-Term Assets from a bankrupt competitor. 70 The controller has asked you to calculate the depreciation and amortization for each asset group for 71 the next two years. She is unsure whether to use straight-line or accelerated for the machinery & 72 equipment so you are asked to prepare calculations under each method. 73 74 Schechule of Long-Term Assets acquired 75 Straight-line DDB 76 Cost Salvage Value Life Year 1 Year 2 Year 1 Year 2 77 Machine & Equipment 250,000 10,000 5 78 Office Equipment 30.000 0 10 (Remember info from Required W2 79 Delivery Equipment 55.000 11,000 3 80 81 Patent 30,000 0 10 82 Customer List 125.000 0 5 83 84 Required: 85 86 1. Calculations depreciation or amortization for each asset class Place your answers in the table above 87 Exam 50 Type here to search O BE board Font Alignment Number UPDATES AVAILABLE Updates for Office are ready to be installed, but first we need to close some apps Update now X B 125,000 D 5 ustomer List 0 equired: 1. Calculations depreciation or amortization for each asset class. Place your answers in the table above. 2. Calculate the Gain/Loss on $10,000 of office equipment sold exactly one year later for $9,500. (Assumed straight-line depreciation with no salvage value was used) ME