On April 2, Year 1. Victor, Incorporated acquired a new piece of filtering equipment. The cost of the equipment was $480,000 with a residual value of $30,000 at the end of its estimated useful lifetime of 4 years. Victor uses a calendar year-end for financial reporting. Assume that in its financial statements, Victor uses straight-line depreciation and rounds depreciation for fractional years to the nearest whole month. Depreciation recognized on this equipment in Year 1 and Year 2 will be: Multiple Choice $30,000 in Yeart and $112,500 in Year 2. $84,375 in Year 1 and $112,500 in Year 2 $112,500 in Year 1 and $112.500 in Year 2 $120,000 in Yeart and $90,000 in Year 2