Question 1 A business equipment used for the manufacture of commercial goods $40,000. This asset is expected to be sold after 4 years for $7,000. Compute the depreciation amounts every year (depreciation schedule) during the useful life of this asset. Please refer to a current tax regulations1 for CCA rates. Please attempt using the following methods: can be purchased for First, book depreciation: [a] Straight-line (SL) method (Book Depreciation) b] Double balance (DB) method with rate 20% (Book Depreciation) [c] Double-declining-balance (DDB) method (Book Depreciation) [d] DDB switching to SL method (Book Depreciation) depreciation [e] CCA depreciation Next tax as a class 8 asset (Tax Depreciation, / year rule applies) [e] CCA depreciation rate is 50% (Tax Depreciation, 2 year rule exempt) Hint: Please do not depreciate below salvage value for methods [a], [b], and [c]. You may depreciate below salvage value for method [d] and [e] if it is necessary. Please note that the to Tax Depreciation half-year rule applies by default