On July 3, Year 1, Hayes Company purchased equipment costing $11,400. The equipment has an estimated salvage value of $970 and an estimated useful life of 5 years. Hayes Company calculates depreciation to the nearest month Required: Compute the depreciation expense (to the nearest month) for Year 1 and Year 2 using the straight line method Year 1 depreciation expense s D Help Year 2 depreciation expense ClearUndo Next >> I don't know