QUESTION 2 On January 1, 2011, Forrest Company purchased equipment at a cost of $390,000. The equipment was estimated to have a salvage value of $12,000 and it is being depreciated over eight years under the sum-of-the-years'-digits method. What should be the charge for depreciation of this equipment for the year ended December 31, 2012? $73,500 $90,000 $47,250 $81,000 QUESTION 3 A vehicle has a list price of $21.500. After negotiations, the vehicle was acquired by Clarkson on April 1, 2017 for a down payment of $3.000 cash and a zero-interest-bearing note with a face amount of $18,000. The note is due April 1, 2018 and had a present value of $16,364 based on Clarkson's normal rate of borrowing for such a transaction of 10%. What is the acquisition cost of the vehicle? $21,500 $19,364 $21,000