2)An asset has an initial cost of $60,000, a salvage value of $5,000, and a depreciation life of 6 years. a)Determine the book value for year 3 using sum-of-the-years-digits depreciation. b)Determine the depreciation for year 3 using double declining balance depreciation. c) Determine the equivalent annual capital recovery plus a 12% return for year 3, assuming declining balance depreciation.