ONE Ntoto Enterprises acquired a new robot for its factory at a cost of $40,000. The robot is expected to be used in the factory for 10 years. At the end of 10 years, Ntoto assumes the robot will have a resale value of $4,000. Ntoto uses an accelerated method of depreciation to allocate the cost of assets to each year of their useful lives. In particular, Ntoto uses the double-declining-balance method. Required: 1. What will be the amount of depreciation expense recorded in year 1 and year 2 ? Show your work to receive partial credit in the case of mistakes. 2. Give the journal entries that would be made for year 1 and year 2 to record depreciation. 3. What will be the book value of the robot at the end of the 2nd year of use? Briefly comment on the relationship between the book value and what the robot will actually be worth at that time. 4. Regardless of your answer to part 3 , assume the following balances at the end of year 2: Robot (asset account) $40,000 (debit) Accumulated depreciation - robot $14,400 (credit) If Ntoto sold the robot to Moody, Inc. at the end of the second year for $30,000, how would Ntoto record that transaction in their accounting records? Briefly explain your thinking and show your calculations