Highpoint Constructions Ltd purchased new excavation equipment on 1 January 2022, at a cost of $973 500 (GST Inclusive). The accountant estimated the excavation equipment would have a residual value of $50 000. It is company policy to keep equipment for 5 years. Required (a) Assuming a financial year ending 30 June, calculate the amount of depreciation expense for each year ending 30 June 2022 through to 30 June 2027, with each of the following methods: i. straight-line ii. diminishing balance