New ithographic equipment, acquired at a cost of 5800,000 on March 1 at the beginning of a fiscal year, has an estimated useful life of five years and an estimated residual value of $90,000. The manager requested information regarding the effect of alternative methods on the amount of depreciation expense each year In the first week of the fifth year, on March 4, the equipment was sold for 5135,000 Required: 1. Determine the annual depreciation expense for each of the estimated five years of use, the accumulated depreciation at the end of each year, and the book value of the equipment at the end of each year by (a) the straightene method and (b) the double-decirung-balance method 2. Journaize the entry to record the sale assuming the manager chose the double-decining balance method. Refer to the chart of Accounts for exact wording or account des 3. Journaxzo the entry to record the sale in (2), assuming that the equipment was sold for $88 750 instead of 5139,000. Retor to the Chart or Accounts for exact wording of account titles