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 = 60000 Useful life in years = 20 Residual value = 12000 Date purchased = April 1

1) What is the depreciation expense per year? 2) What is the depreciation expense per month? 3) What is the depreciation expense in the year of purchase?