Question 1 Cobalt Manufacturing purchased equipment and a delivery vehicle on January 1, 2019. The equipment cost $65,000 and has an estimated useful life of 8 years with a residual value of $9,000. The delivery vehicle cost $150,000 and has an estimated life of 4 years or 200,000 kilometres and a residual value of $14,000. The delivery truck is expected to be driven 35,000 and 40,000 kilometres in 2019 and 2020, respectively. Required 1. Cobalt has decided to depreciate the equipment using either the straight-line method or double declining method. Calculate depreciation for the equipment for 2019 and 2020 using the straight-line method AND the double declining method. 2. Cobalt has decided to depreciate the delivery truck using the units-of-production method. Calculate depreciation for the delivery truck for 2019 and 2020. 2010