QUESTIONS Scrimshander, Inc. is a shipping company, transporting goods using cargo ships. On January 1, 2017, the company purchases and puts into service a cargo ship costing $10,000,000. The expected useful life of the ship is 25 years. Scrimshander uses straight-line depreciation 1. Calculate the annual depreciation expense that Scrimshander must recognize on the cargo ship over the next 25 years 2. Calculate the net book value of the cargo ship as of December 31, 2020, 3. Calculate the net book value of the cargo ship as of December 31, 2041. 4. Assume that Scrimshander continues using this cargo ship throughout 2042. How much depreciation expense should Scrimshander recognize for that year