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Question 2 (10 marks) Wesley Co. purchased an equipment on April 1, 2013. It has an expected life of 20 years and no residual value.

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Question 2 (10 marks) Wesley Co. purchased an equipment on April 1, 2013. It has an expected life of 20 years and no residual value. The company's financial year ended on December 31. The following expenditures were associated with the purchase: Cost of equipment Freight charges Sales taxes Installation of equipment $120,000 5,200 7,800 27,000 Required: (SHOW WORKINGS) Compute the depreciation expense for Years 2013 and 2014, using (1) the straight-line method with fractional years rounded to the nearest whole month (5 marks) (in t he 150% declining balance and using the half-year convention

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