152. The Glover Corporation purchased $80,000 of equipment on July 1, 2016. The equipment is expected to be used in the business for five years and has an estimated salvage value of $11,000. Partial...

152. The Glover Corporation purchased $80,000 of equipment on July 1, 2016. The equipment is expected to be used in the business for five years and has an estimated salvage value of $11,000. Partial MACRS tables are listed below:

153. On January 1, 2016, Stewart Corporation purchased equipment for $120,000. A discount of 2% was granted on the equipment; the shipping terms were FOB shipping point, and the freight cost was $3,000. Installation and testing costs amounted to $4,000. The equipment had an estimated useful life of 4 years and salvage value of $10,000. At the beginning of 2018, Stewart revised the expected life of the asset to six years and the salvage value to $12,000.
Required: Compute the depreciation expense using straight-line method for each of the six years.