QUESTION 1 Your company has just purchased a new piece of production equipment for 5123,500. This equipment has an 18 year useful life, but is classified as a 10 year MACRS asset. The equipment has a 553,400 salvage value at the end of its useful life. Determine the amount of depreciation in year 8, using the double declining balance (DDB) method. Round your answer to the nearest dollar and enter only the numerical portion of your answer (t.e. no additional symbols). For example, if your answer is 5678.934.67 you should enter 678935. 4937 QUESTION 2 Consider this same piece of production equipment that was purchased for $123.500. This equipment has an 18 year useful life, but is classified as a 10 year MACRS asset. If the equipment is sold for 553.400 in vear 8. what are the net proceeds of this sale? Assume that the company has a marginal tax rate of 27%. Round your answer to the nearest dollar and enter only the numerical portion of your answer (e. no additional symbols). For example. If your answer is 5678,934.67 you should enter 678935