Penny and Daughter's construction business is considering purchasing a new Bobcat. The equipment will cost $150,000 and is expected to last 12 years. The Bobcat has a salvage vale of $7,000. Calculate the depreciation AND book value for each year. You can create one table for a-d or you can create different tables for each. This problem will need to be done in excel. (30 points)

a.Use straight-line depreciation. (5 points)

b.Use declining-balance depreciation with a depreciation rate that ensures the book value equals the salvage vale in the last year of the life of the equipment. (5 points)

c.Use double declining balance depreciation. (5 points)

d.Use MACRS depreciation where the Bobcat is considered a 10 year property. (5 points)

e.Graph the Book values of each methods on a single graph. The graph should have points at each year for each BV and a line of each method. You will have 4 lines on your graph. You should include year 0 on your graph so that all four lines start at the same point. Each method should be a different color and you must label the graph, axes, and legend. (10 points)