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Problem 1 AZ Inc. purchased Equipment on January 1 for $400,000. This equipment is depreciated using the straight line method with a salvage value of 10,000 and a four year estimated useful life. YOUMUSTSHOWYOURWORK, WHERE APPLICABLE, TORECEIVECREDIT. How much depreciation expense woukd be reported the first year? b. What is the total accumulated depreciation on Equipment at the end of year 3? c. What is the book value of the Equipment at the end of year 3? d. Show the Balance Sheet Presentation, including the section title, for Equipment at the end of year 3