Problem 7-70A (Algorithmic) Depreciation Methods Hansen Supermarkets purchased a radio frequency identification (RFID) System for one of its stores at a cost of $150.000. Hansen determined that the system had an expected life of seven years (or 50,000,000 items scanned) and an expected residual value of $7.100 Required: 1. Determine the amount of depreciation expense for the first and second years of the system's life using the a. Straight-line method. Round your answer to the nearest whole dollar and use the rounded amount for subsecent calculations Depreciation expenses per year 1. Double-declining balance method (Round your answers to the nearest whole collar and do not found intermediate calculations.) Depreciation Expense Year Year 2 2. If the number of es scanned the first and second years were 7.200,000 and 8,150,000, respectively, compute the amount of depreciation expense for the first and second years of the System's life using the units of production depreciation method. Round your answers to the nearest whole dotar and do not found intermediate calculations Depreciation Expense Year 1 Year 2 3. Compute the book values for all three depreciation methods of the end of the fest and second years of the system's life 1. Double-declining balance method: (Round your answers to the nearest whole dollar and do not round intermediate calculations.) Depreciation Expense Year 1 Year 2 2. If the number of items scanned the first and second years were 7,200,000 and 8,150,000, respectively, compute the amount of depreciation expense for the first and second years of the system's life using the units-of-production depreciation method. Round your answers to the nearest whole dollar and do not round intermediate calculations. Depreciation Expense Year 1 Year 2 3. Compute the book values for all three depreciation methods as of the end of the first and second years of the system Straight line method Double-declining balance method U s of production method