Use the information below to answer the questions that follow. Enter your answers using digits only - no dollar signs, commas, or decimal points. The business's year-end is December 31. Cost of equipment = 110000 Useful life in years = 4 Residual value = 8000 Date purchased = March 1 What is the depreciation expense per year?

What is the depreciation expense per month?

What is the depreciation expense in the year of purchase?