Bill enters a country club one night to see his business competitor alicia sitting sadly on the patio. bill knows alicia just declared bankruptcy for her business, and bill decides to humiliate her in front of her friends and play a joke on her. to do this he decides to offer her his $100,000 porsche for only $5,000 believing that she would of course have to say “no” since she lost all her money. alicia surprises him however, by accepting his offer, shouting gleefully “of course i will buy your porsche for $5000. bill! ” is there a valid contract

Bayside coatings company purchased waterproofing equipment on january 2, 20y4, for $190,000. the equipment was expected to have a useful life of four years and a residual value of $9,000. instructions: determine the amount of depreciation expense for the years ended december 31, 20y4, 20y5, 20y6, and 20y7, by (a) the straight-line method and (b) the double-declining-balance method. also determine the total depreciation expense for the four years by each method. depreciation expense year straight-line method double-declining-balance method 20y4 $ $ 20y5 20y6 20y7 total $