Use the following to answer questions 1819 The company purchased equipment for $400,000 on January 1, year 1 . The equipment is expected to have a 5 -year life, with a residual value of $50,000 at the end of its service life. 18. S Using the 190%-declining balance method, determine depreciation expense for year 2 : 19. S Using the straight-line method, determine book value at the end of year 2