Rajiv Motors bought a large hydraulic lift on January 1, 2010 for $80,500 with an estimated useful life of 5 years and a salvage/residual value of $2500. On December 31, 2012, they determine that the equipment can be used for an additional 4 years with a revised salvage/residual value of $1200. Rajiv uses the straight line method of depreciation.

a) What is the Depreciation Expense in 2010 & 2011?

$ in 2010
$ in 2011

b) What is  the Book Value at the end of 2012?

$

c) What is the depreciation expense for 2014?

$

d) What is the Book Value at the end of 2014?

$