IL A drill press costs $89,000 with a salvage value of $5,000 and a useful life of 7 years. What is the total accumulated depreciation at the end of year 5 using the straight-line method of depreciation? Referring to question III, what is the depreciation for year 7 using the double- declining depreciation method? (calculate the rate to five decimal places) I IV. Referring to question III, assume that the equipment will produce 252,000 parts and in year three 74,000 parts were produced Determine the depreciation for Year three