Question 3 On July 1,2023 , Francis Company purchased for $2,160,000 snow-making equipment having an estimated useful life of 5 years with an estimated salvage value of $90,000. Depreciation is taken for the portion of the year the asset is used. Instructions a. Complete the form below by determining the depreciation expense and year-end book values for 2023 and 2024 using the i. sum-of-the-years'-digits method. ii. double-declining balance method. b. Assume the company had used straight-line depreciation during 2023 and 2024 . Uunng 2025 , the company determined that the equipment would be useful to the company for only one more year beyond 2025 . Salvage value is estimated at $120,000. Compute the amount of depreciation expense for the 2025 income statement