Part 1 On October 1, 2014 The Han Solo Company purchased 4 assets as described below Millenium Falcon cost $950,000 life 11 years $70,000 salvage Jedi Sword cost $180,000 life 7 years salvage $12000 Speeder cost $50,000 life 8 years salvage $2000 Death Star cost $1,200,000 life 40 year salvage $100,000 mileage 1,000,000 miles Vadar elects to depreciate the Millenium Falcon using straight-line; the sword using double declining balance, the speeder using sum of the year's digits, and the Death Star units of activity: in 2014 Hand Solo drove the Death Star 25,000 miles in 2015 Han Solo drove the Death Star 150,000 miles REQUIRED; DETERMINE DEPRECIATION EXPENSE AND BOOK VALUE FOR EACH OF THE 4 ASSETS ON DECEMBER 31 2014 AND 2015 Part 2 Using the information from part 1: In July 2014 Han Solo chose to use group/composite depreciation for the Falcon, the sword and the Speeder On January 1, 2015 Han Solo purchased a C3PO unit for $600,000 which will belongs in the group/composite REQUIRED: DETERMINE DEPRECIATION EXPENSE FOR 2015 FOR THE GROUP OF ASSETS ( you can ignore the Death Star for part 2)