3.) An underground rock mechanics testing device is to be double declining depreciated. It has a first cost of $25,000 and an estimated salvage of $2,500 after 12 years. (a) What is book value and...

Extracted text: 3.) An underground rock mechanics testing device is to be double declining depreciated. It has a first cost of $25,000 and an estimated salvage of $2,500 after 12 years. (a) What is book value and market value? (b) Calculate the depreciation and book value for years 1 and 4. (c) Calculate the implied salvage value after 12 years.