KL Ltd. purchased kitchen equipment for $37,000 with a residual value of $7,000 and a life expectancy of 5 years. Using straight line depreciation the amount of the depreciation adjustment for the first year would be: Question 24 options: $4,000 $5,000 $6,400 $6,000 Question 25 (1 point) Raya Ltd. bought equipment for $60,000. This equipment will be used for 5 years and won't have any value left at the end. How do you find the yearly decrease in value using the straight-line method among the options below?" Question 25 options: a) Annual Depreciation = ($60,000 - $0) / 5 = $12,000 b) Annual Depreciation = ($60,000 - $10,000) / 5 = $10,000 c) none of the options are correct