Suppose a company purchases a piece of equipment for 42000 at the beginning of the year . The equipment is estimated to have a useful life of 3 years and no residual valve. Using the depreciation method learned , what exspense for the first year of the assets life? What is the book valve of the equipment at the end of the first year? What is the book value of the eqipment at the end of the second year? Select a formuls to calculate depreciation expense, then enter the amount to calculate the depreciation expense fir the first year of the asset life. First select formula to determine the book value , then enter the amounts and calculate the books value for the first year and then for the second year.