Question 5 Talbert Corporation purchased equipment on January 1, 2008 for $87,000. It is estimated that the equipment will have a $7,000 residual value at the end of its 8-year useful life. It is also estimated that the equipment will produce 160,000 units over its 8-year life. Required: each of the following are independent and separate from each other. (show your calculations for potential part marks) (a) Calculate the amount of depreciation expense for the year ended December 31, 2008, using the straight-line method of depreciation. (b) If 16,000 units of product are produced in 2008 and 24,000 units are produced in 2009, what is the carrying value of the equipment at December 31, 2009? The company uses the units-of-production depreciation method. (c) If the company uses the double diminishing-balance method of depreciation, what is the balance of the Accumulated DepreciationEquipment account at December 31, 2009