Question 4 (15 points) The Farley Company purchased a piece of equipment at the beginning of 2018. The equipment has a cost of $300,000, an estimated residual of $50,000, and a useful life of 5 years. Determine the Depreciation Expense for 2018 using the Straight Line method. O $60,000 $72,000 $50,000 $120,000 Question 5 (15 points) The Farley Company purchased a piece of equipment at the beginning of 2018. The equipment has a cost of $300,000, an estimated residual of $50,000, and a useful life of 10 years. Determine the Depreciation Expense for 2019 using the Double- Declining-Balance method. $30,000 $60,000 $48,000 $25,000