Problem #9 Depreciation: Acaster Inc. purchased a piece of equipment on 1/1/01 for $54,000. The equipment is expected to last for 10 years, at which time it can be sold for its parts for $4,000. a. What amount of depreciation expense would the reported on the 12/31/03 financial statements? b. What amount of accumulated depreciation would be reported on the 12/31/04 financial statements? c. What would be the book value of the equipment on 12/31/05? d. If that same piece of equipment had been purchased on 7/1/01, what amount of depreciation expense would have been reported on the 12/31/01 financial statements? e. If that same piece of equipment had been purchased on 7/1/01, what amount of accumulated depreciation would have been reported on the 12/31/02 financial statements