New tire re-treading equipment, acquired at a cost of $120,000 on 1/2/06, has an estimated useful life of 5 years and an estimated residual value of $10,000. The manager requested information regarding the alternative methods on the amount of depreciation expense each year. Instructions: Determine the amount of depreciation expense, accumulated depreciation, and book value for the years ended December 31, 2006, 2007, 2008, 2009, 2010 by the straight line method the double declining balance method units of production Assume that it is estimated that the equipment will be used for 10,000 operating hours. (2,500 (06), 3,000 (07), 2,750 (08), 1,500 (09), 250 (2010). (Present and submit all of your work in the Problem 3 Part 1 Tab) Part 1 (a) Staright-Line Depreciation Schedule Depreciation Accumulated Expense Depreciation Asset Book Value Date December 31, 2006 December 31, 2007 December 31, 2008 December 31, 2009 December 31, 2010 Part 1 (b) Double-Declining-Balance(DDb) Depreciation Schedule Depreciation Accumulated Asset Book Value Date Expense Depreciation December 31, 2006 December 31, 2007 December 31, 2008 December 31, 2009 December 31, 2010 Part 1 (c) Units -of-Production Depreciation Schedule Depreciation Accumulated Asset Book Value Date Expense Depreciation December 31, 2006 December 31, 2007 December 31, 2008 December 31, 2009 December 31, 2010