Problem 1: Cobalt Homes Limited acquires a new equipment at a cost of $66,000. The estimated salvage value is $6,000 and estimated life of 5 years. a) Use "straight-line" method, the "double declining balance" method, and the "sum-of-year's-digit" method to determine i) Annual depreciation for each of the estimated useful life; [ 5pts ] ii) The accumulated depreciation at the end of each year; [ pts] iii) The book value at the end of each year. [ 5pts ] b) Calculate the annual depreciation (for tax purposes). Assume that the CCA rate is 30\%. [5 pts] c) During the first month of the 4th year, the equipmerit was traded in for a brand-new equipment at $77,000. Tie Lrade-in allowance was $7,000. Use CCA rate of 30% to calculate the CCS in the 4th year, and UCC at the end of that year (assume that salvage value equals the trade-in value). [ 5pts ]