E3. Carlson purchased Equipment for $56,000 with salvage value $7,000 and a 10-year life. Carlson used the asset for four years, straight line, but it was apparent that the Equipment would last only 4 more years. 1. What was the book value of the Equipment after 4 years? $. 2. What will be the depreciation expense in each of the remaining 4 years?$ Hint: take the remaining book value, subtract salvage value, and divide by remaining life. E4. Partial Year Depreciation--STRAIGHT LINE Tumwater purchased a truck for $38,000 on 07/01/15 with salvage value of $8,000 and useful life of 4 years. SL Depreciation is recorded on 12/31 each year to nearest whole dollar. What is the depreciation expense for year 1? What is the depreciation expense for year 2? Show your work