Question 1 (12 marks) 1 mark for each correct amount of depreciation under the three methods for all years. 1 mark for calculating the correct rate under Units of production. 1 extra mark for the correct double diminishing balance amount for years 2021 and 2022. Scary Ltd. purchased equipment and a delivery truck on January 1, 2020. The equipment cost $120,000 and has an estimated useful life of 10 years with a residual value of $12,000. The delivery truck cost $220,000 and has an estimated life of 5 years or 300,000 kilometres and a residual value of $25,000. The delivery truck is expected to be driven 42,000, 28,000, and 35,000 kilometres in 2020, 2021 and 2022, respectively. Required 1. Scary Ltd. has decided to depreciate the equipment using either the straight-line method or double declining method. To make a decision Scary Ltd. Needs you to Calculate depreciation for the equipment for 2020, 2021, and 2022 using the straight-line method AND the double diminishing balance method. 2. Scary Ltd. has decided to depreciate the delivery truck using the units-of-production method. Calculate depreciation for the delivery truck for 2020, 2021 and 2022. 2020 2021 To Assist: Sample chart below (optional) 2022 Depreciation Depreciation Depreciation Requirement #1 Equipment - Straight-line method Equipment - Double-Declining method Requirement #2 Delivery Truck - Units-of-Production