The company purchased equipment for $500,000 and they estimated the residual value to be $100,000 at the end of the estimated 8 years or 20,000 hours service life. For Straight-line: 1. Determine Book value at the end of year 3 For Double declining balance: 2. Determine depreciation expense for year 2 3. Determine depreciation expense for year 3 For Activity based: Year 1 2 3 4 5 6 7 8 Hours used 2,500 2,525 2,600 2,525 2,475 2,550 2,450 2,500 4. Determine depreciation expense for year 3 5. Determine Book value at the end of year 3 $ $ $ dal $ $