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Gandolfi Construction Company purchased a CAT 336DL earth mover at a cost of $395,000 in January 2022 . The company's estlmated useful life of this heavy equipment is 20 years, and the estimated salvage value is $82,000. Required: a. Using straight-line depreciation, calculate the depreciation expense to be recognized for 2022 , the first year of the equipment's life, and calculate the equipment's net book value at December 31,2024, after the third year of the equipment's life. b. Using declining-balance depreciation at twice the straight-line rate, calculate the depreclation expense to be recognized for 2024 , the third year of the equipment's life