! Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] NewTech purchases computer equipment for $270,000 to use in operating activities for the next four years. It estimates the equipment's salvage value at $31,000. Exercise 10-7 (Algo) Straight-line depreciation LO P1 Prepare a table showing depreciation and book value for each of the four years assuming straight-line depreciation. Choose Numerator: Straight-Line Depreciation Annual Depreciation Expense Choose Denominator: Cost minus salvage Estimated useful life (years) Depreciation expense $ 270,000/ 31,000 = $ Year Annual Depreciation Year-End Book Value Year 1 Year 2 Year 3 Year 4 Total $ 0