Part II. Work-out Problems (3 POINTS) 1. A company acquired equipment on April 1, 2010 for $160,000. The company estimates the useful life for the equipment is 400,000 units and the estimated salvage value is $60,000. The equipment has an estimated useful life of 5 years. The company uses the straight-line method of depreciation. Determine the depreciation expense of the equipment on December 31, 2010. (1 pt.) 2. A company purchased factory equipment for $150,000 on January 1, 2018. It is estimated that the equipment will have a $30,000 salvage value at the end of its estimated 5-year useful life. If the company uses the double-declining-balance method of depreciation, calculate the amount of annual depreciation recorded for 2019. (2 pts.)