P1. The Jojo Journal is a local daily newspaper that prints both the daily paper and other advertising and marketing materials. On January 1, Jojo purchased a used printing press for $925,000. Based on past experience and reliability information about printing presses, Jojo expects the printing press to last five years and print approximately 240,000 copies. At the end of its useful life to the company, Jojo estimates a resale value of approximately $225,000 for the press. Calculate depreciation using the double-declining-balance method. Determine the annual depreciation expense for the printing press using the double-declining-balance method. Prepare a schedule that illustrates annual depreciation expense. Prepare the journal entry to record the first year of depreciation expense. (See slide 19 in lecture 10.0 for an example schedule.) Compare the three depreciation methods above. Briefly discuss the differences between the three depreciation methods above. Which method do you think is most appropriate for the printing press and why? Are there any methods you would not recommend