Turner company purchased a piece of equipment on May 1, 2019 at a cost of $100,000. The company estimated that the machine would have a salvage value of $4,000 at the end of its service life. Its life is estimated at 5 years.

Required

1. What is the Book Value of the equipment at the end of 2021 if Turner uses the double-declining balance.

2. Provide the journal entry to record depreciation expense for 2019 using straight-line, Sum-of-the-Years digits, and double-declining balance methods.