The Wholesale company purchases equipment for $60,000 on April 1, 2017. It estimates that the equipment will have a salvage value of $10,000 and its useful life will be 5 years. Assuming the company's accounting year ends on December 31 of each year, what will be the Depreciation Expense for the years 2017 and 2018 be, using straight-line depreciation method? Year 2017: $ Year 2018: $ Calculation