On January 1, 2024, Morrow incorporated 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 2024 and 2025,42,000 and 76,000 units, respectively, were produced. Required: Compute depreciation for 2024 and 2025 and the book value of the spooler on December 31,2024 and December 31,2025. assuming the sum-of-the-years'-digits method is used