On January 1, 2021, Morrow Inc. purchased a spooler at a cost of $40,000. The equipment is expected to last eight years and have a residual value of $4,000. During its eight-year life, the equipment is expected to produce 250.000 units of product in 2021 and 2022, 42,000 and 76,000 units, respectively, were produced. Required: Compute depreciation for 2021 and 2022 and the book value of the spooler at December 31, 2021 and December 31, 2022. assuming the units of production method is used. 2021 2022 Depreciation Book value