please use excel & write formula :)

Date Assigned: Tuesday, June 02, 2020 Date Due: Wednesday, June 03, 2020 before class. No late homework will be accepted. Homework 5 . . . . . . Please notice that all work must be shown in a professional way with attention to detail No credit will be given for incomplete or disorderly work Please use a cover sheet stating your name, course number, date due, and homework number Unstopled homework will not be collected as this is part of the assignment All work must be individual with emphasis on numerical accuracy This is an Excel based assignment that must be submitted following the stated guidelines Please notice that late homework (after collected by the instructor) will incur into a 25% late fee 1. Exercise One: Prats Engineering has recently purchased an industrial level, computerized milling machine. At the time of purchase, the asset has a Book Value of $85,000 (USD), and a useful life of 15 years. The Straight-Line Rate is 5%, and the corresponding Salvage Value is $17,000 (USD). Given your knowledge of depreciation, and using the Depreciation Module as your guide, (a) as shown in class, compute the depreciation schedule for this asset under the Declining Balance Method. (Hint: Remember to multiply the Straight-Line Method by a factor of 2 to obtain the Declining Balance Rate of Depreciation). 2. Exercise Two: New York Hospital has recently acquired a new MRI machine for medical diagnosis. At the time of purchase, the asset has a Book Value of $1,000,000 (USD), and a useful life of 30 years. The Straight-Line Rate is 2%, and the corresponding Salvage Value is $293,000 (USD). Given your knowledge of depreciation, and using the Depreciation Module as your guide, (a) as shown in class, compute the depreciation schedule for this asset under the Declining Balance Method. (Hint: Remember to multiply the Straight-Line Method by a factor of 2 to obtain the Declining Balance Rate of Depreciation)