Mean Beans, a local coffee shop, has the following assets on January 1, 2023. Mean Beans prepares annual financial statements and has a December 31,2023 year-end. The company's depreciation policy is to use the straight-line method to depreciate its assets. o. On January 1, 2023, purchase equipment costing $19,800 with an estimated life of five years. Mean Beans will scrap the equipment after five years for $0. b. On July 1, 2023, purchase furniture (tables and chairs) costing $17,200 with an estimated life of ten years. Mean Beans estimates that it can sell the furniture for $1,100 after ten years: c. On January 1, 2021. Mean Beans had purchased a car costing $36.000 with an estimated life of eight years. Mean Beans estimates that it can sell the car for $7,200 after eight years. Required: 1.o. For each transaction, calculate the current year's annual depreciation expense