QUESTION 6 Powers Co. purchased equipment for $200,000 on January 1, 2018. The equipment has an estimated service life of 8 years and an estimated residual value of $20,000. Compute the depreciation expense for 2018 (year 1) using the straight line method. Input your answer without dollar signs S....for example. If your answer is $10,000, input 10,000 as the solution. QUESTION 7 Powers Co. purchased equipment for $200,000 on January 1, 2018. The equipment has an estimated service life of 8 years and an estimated residual value of $20,000. Compute the depreciation expense for 2018 (year 1) using the sum-of-the-years' digits method. Input your answer without dollar signs .....for example. If your answer is $10,000, input 10,000 as the solution