QUESTION 1 Your company has just purchased a new piece of production equipment for $123,500. This equipment has an 18 year useful life, but is classified as a 10 year MACRS asset. The equipment has a $53,400 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 (i.e. no additional symbols). For example, if your answer is $678,934.67 you should enter 678935. ear e, eising the double declining balancer