On June 1, 2018, Ohio Inc. purchased equipment for $385,000 cash. Ohio estimates that the equipment will have a salvage value of $24,000 and a useful life of 8 years. Ohio prepares its financial statements on a calendar year basis ending December 31. Required: Compute the depreciation expense as follows below. Please show your work AND select an answer. If you need to pro-rate, i.e., take 4/12 months, please round these numbers to 2 decimal places before continuing with your calculations. 1. Straight line method depreciation expense for 2018: a. 26,323 b. 45.125 c. 48,125 d. 24,063 2. Straight line method depreciation expense for 2019: a. 26,323 b. 45,125 c. 48,125 d. 24,063