On January 1, 2024, Canseco Plumbing Fixtures purchased equipment for $32,000. Residual value at the end of an estimated 4 year service life is expected to be $4,000. The company expects the equipment to operate for 10,500 hours. Required: a. Calculate depreciation expense for 2024 and 2025 using sum-of-the-years'-digits, assuming the equipment was purchased on January 1, 2024. b. Calculate depreciation expense for 2024 and 2025 using sum-of-the-years'-digits, assuming the equipment was purchased on March 31, 2024. Complete this question by entering your answers in the tabs below. Calculate depreciation expense for 2024 and 2025 using sum-of-the-years'-digits, assuming the equipment was purchased on January 1, 2024. On January 1, 2024, Canseco Plumbing Fixtures purchased equipment for $32,000. Residual value at the end of an estimated 4 year service life is expected to be $4,000. The company expects the equipment to operate for 10,500 hours. Required: a. Calculate depreciation expense for 2024 and 2025 using sum-of-the-years'-digits, assuming the equipment was purchased on January 1,2024. b. Calculate depreciation expense for 2024 and 2025 using sum-of-the-years'-digits, assuming the equipment was purchased on March 31, 2024. Complete this question by entering your answers in the tabs below. Calculate depreciation expense for 2024 and 2025 using sum-of-the-years'-digits, assuming the equipment was purchased on March 31, 2024