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 = 325000 Useful life in years = 8 Residual value = 25000 Date purchased = July 31 What is the depreciation expense per year? What is the depreciation expense per month? What is the depreciation expense in the year of purchase