Partial-year depreciation OBJ. 2 Sandblasting equipment acquired at a cost of $40,000 has an estimated residual value of

$8,000 and an estimated useful life of eight years. It was placed into service on April 1 of the current fiscal year, which ends on December 31. Determine the depreciation for the current fiscal year and for the following fiscal year by

(a) the straight-line method and

(b) the double-declining-balance method.