On January 1, Englewood cranes purchased a crane for $212,000. Inglewood expects the crane to remain useful for eight years (1,200,000 lifts) and to have a residual value of $20,000. the company expects the crane to be used 160,000 lifts the first year.

Compute the first-year depreciation expense on the crane using the straight-line methods: a. Straight-works b. Units-of-production (Round depreciation per unit to two decimals. Round depreciation expense to the nearest whole dollar) c. Double-check declining-balance (Round depreciation expense to the nearest whole dollar.)

2. On January 1, Inglewood Cranes purchased a crane for $212,000. Inglewood expects the crane to remain useful for eight years (1,200,000 lifts) and to have a residual value of $20,000. The company expects the crane to be used 160,000 lifts the first year. Compute the first-year depreciation expense on the crane using the following methods a. Straight-line b. Units-of-production (Round depreciation per unit to two decimals. Round depreciation expense to the nearest whole dollar) c. Double-declining-balance (Round depreciation expense to the nearest whole dollar.) a. Compute the first-year depreciation expense on the crane using the straight-line method Begin by selecting the formula to calculate the company's first-year depreciation on the crane using the straight-line method. Then enter the amounts and calculate the depreciation for the first year Straight-line depreciation b. Compute the first-year depreciation expense on the crane using the units-of-production method. Before calculating the first-year depreciation on the crane using the units-of-production method, calculate the depreciation expense per unit. Select the formula, then enter the amounts and calculate the depreciation per unit. (Round depreciation per unit to two decimals, X.xx.) Depreciation per unit Nnw salart the formiila enter the amnunte and ralrulate the rnmnanu'c firet.vear denreriatinn on the rrane Iusing the Choose from any list or enter any number in the input fields and then continue to the next