$3$

Kenartha Oil recently paid $$477,900$ for equipment that will last five years and have a residual value of $$110,000.$ By using the machine in its operations for five years, the company expects to earn $$176,000$ annually, after deducting all expenses except depreciation. Complete the schedule below assuming each of $($a$)$ straight$-$line depreciation and $($b$)$ double$-$declining$-$balance depreciation. $($Do not round intermediate calculations. Enter loss amounts with a minus sign.$)$

$00$:$45$:$24$

$\backslash$table$[[($a$)$ Straight$-$Line Depreciation:,Year $1,$Year $2,$Year $3,$Year $4,$Year $5,5-$Year Totals$],[$Profit before depreciation,,,,,,$],[$Depreciation expenses,,,,,,$],[$Profit $($loss$),,,,,,],[,,,,,,],[($b$)$ Double$-$Declining$-$Balance Depreciation:,,,,,,$],[,$Year $1,$Year $2,$Year $3,$Year $4,$Year $5,5-$Year Totals$],[$Profit before depreciation,,,,,,$],[$Depreciation expenses,,,,,,$],[$Profit $($loss$),,,,,,]]$