On January 1, 2024, Canseco Plumbing Fixtures purchased equipment for $60,000. Residual value at the end of an estimated 4 year service life is expected to be $32,000. The company expects the equipment to operate for 17,500 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. Required A Required B Calculate depreciation expense for 2024 and 2025 using sum-of-the-years'-digits, assuming the equipment was purchased on January 1, 2024. 2024 2025 Sum-of-the-years' digits depreciation Depreciable Base x x Rate per Year = Depreciation Expense