Required information (The following information applies to the questions displayed below] On January 1. Year 1, a company purchased equipment for $148,000. The estimated service life of the equipment is 10 years and the estimated residual value is $16,000. The equipment is expected to produce 400,000 units during its life. Required: Calculate depreciation for Year 1 and Year 2 using each of the following methods. 2. Double-declining balance