2 Textbook Problems Check my work Problem: Module 2 Textbook Problem 14 Learning Objectives: 2-9 Calculate straight-line depreciation and show how it affects financial statements 2-10 Calculate double-declining-balance depreciation and show how it affects financial statements At the beginning of Year 1, Copeland Drugstore purchased a new computer system for $280,000. It is expected to have a five-year life and a $40,000 salvage value. Required a. Compute the depreciation for each of the five years, assuming that the company uses (1) Straight-line depreciation. (2) Double-declining-balance depreciation. b. Record the purchase of the computer system and the depreciation expense for the first year under straight-line and double- declining-balance methods in a financial statements model. Complete this question by entering your answers in the tabs below.