! Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below) NewTech purchases computer equipment for $154,000 to use in operating activities for the next four years. It estimates the equipment's salvage value at $25,000. Exercise 8-7 Straight-line depreciation LO P1 Prepare a table showing depreciation and book value for each of the four years assuming straight-line depreciation. Straight Line Depreciation Choose Numerator: 1 Choose Denominator: Annual Depreciation Expense Beginning book value Estimated useful life (years) Depreciation expense 0 Year Year 1 Year 2 Year 3 Yon 4 Total Annual Depreciation $ 164,000 77,000 38,500 25,000 $ 294,500 Year-End Book Value 77,000 38,500 25,000 25,000