Book Value and Depreciation Calculations

The Golden Broom Cleaning Service acquired new equipment:Cost$118,400Residual (Salvage Value)$12,800Estimated useful Life8 years or 40,000 UnitsRequired:a. Determine the book value of the asset at the end of the THIRD year if the straight-linedepreciation method is used.b. Determine the depreciation expense for the SECONDyear assuming double-declining balancedepreciation method is used.c. What would be the depreciation expense for the FIRST year if the units-of-productiondepreciation method is used and 6,000 units were produced?Answers:ComputationsNo partial credit will be awarded unless the details of your computations are provided in the space aove.