Question 3 (22 points) Start Company purchased new equipment with a useful life of five years. The cost of the equipment was $35,000, and the salvage value was estimated to be $5,000 at the end of year 5. Calculate the annual depreciation expenses over life of the equipment based on each of the following book depreciation methods: a) (10 pts) Straight-line method b) (12 pts) Double-declining-balance method