Question: A John Deere tractor acquired on January 5 at a cost of $44,800 has an estimated useful life of 16 years. Assuming that it will

A John Deere tractor acquired on January 5 at a cost of $44,800 has an estimated useful life of 16 years. Assuming that it will have no residual value, determine the depreciation for each of the first two years
(a) By the straight-line method and
(b) By the double-declining-balance method. Round to the nearest dollar.

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