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 =250000 Useful life in years =8 Residual value =5200 Date purchased = June 1 What is the depreciation expense per year? 1 What is the depreciation expense per month? A What is the depreciation expense in the year of purchase? A