Question 24 Not yet answered Marked out of 6.00 Equipment was purchased for the cost of $765,000 on April 1. The company's fiscal year end is August 31. The equipment is estimated to have a five-year life and a $145,000 residual value. Based on experience, the equipment can produce 480,000 units of a product before it must be replaced. The budgeted numbers of units per year are Year 2 3 5 No. of Units 95,000 175,000 145,000 90,000 65,000 4 P Flag question Use the information above to answer the following questions. Note, do not round any figures while you are performing your calculations (For example, if you calculate per KM depreciation to be $1.352525/KM do not round this to $14. Use $1.352525 in your calculation of depreciation), 1. 2 Using the straight line method, calculate the depreciation expense for year 1 (round to the nearest whole dollar without comma, e.g. 15000); Using the straight-line method, calculate accumulated depreciation at the end of year 2 (round to the nearest whole dollar without comma, e.g. 15000): Using the units-of-production method, calculate the accumulated depreciation at the end of year 2 (nearest dollar without comma, e.g. 15000): Using the units-of-production method, calculate the depreciation expense for year 4 (nearest dollar without comma, e.g. 15000): 3. 4 4. Using the units-of-production method, calculate the depreciation expense for year 4 (nearest dollar without comma, e.g. 15000): 5. Using the double diminishing-balance method, calculate the annual rate (nearest percentage without % symbol, e.g. 25): 6. Using the double diminishing-balance method, calculate the depreciation expense for year 1 (nearest dollar without comma, e.g. 15000)