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. $ Using the 190\%-declining balance method, determine depreciation expense for year 2. 19. $ Using the straight-line method, determine book value at the end of year 2. Use the following to answer questions 20 - 22 The company is in the process of closing its operations. It sold its 5 -year-old Front-end loader for $95,000. The loader originally cost $200,000 and had an estimated useful life of 8 years and an estimated residual value of $25,000. The company uses straight-line depreciation for all equipment. 20. $ Calculate the book value of the loader at the end of the 5 th year. 21. $ What was the gain or loss on the sale of the loader at the end of the 5 th year; (if loss, put - in front of your answer)? 22. $ Assume instead the company had originally estimated the Equipment had an estimated useful life of 7 years instead of 8 years. What would be the gain or loss on the sale of the loader at the end of the 5th year (if loss, put - in front of your answer)