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On July 1, 2010, Seminole Construction Corporation purchased equipment for $62,000. Seminole also paid $2,500 to train employees how to use it. The equipment is expected to have a useful life of eight years and a salvage value of $500. Requirements 1. Calculate the depreciation expense for the years ended June 30, 2011-2013, using the straight-line method. (Round to the nearest whole dollar.) Year J = Annual depr. expense 06/30/2011 06/30/2012 06/30/2013 (2 2. Compute the depreciation for the years ended June 30, 2011-2013, using the double-declining balance. Year = Annual depreciation expense 06/30/2011 06/30/2012 06/30/2013 3. What is the straight-line book value at 6/30/2013? Straight-line depreciation book value at 6/30/2013 Less: Book Value What is the double-declining balance book value at 6/30/2013? Double-declining balance depreciation book value at 6/30/2013 Less: Book value