4. On January 1, 2019 Baylee Company purchased equipment costing $275,000. The estimated useful life of the equipment is 10 years and the estimated salvage value is $15,000. a. Determine the depreciation rate using double declining balance method Depreciation rate =200/ useful life =200/10=20% b. Calculate the first year's depreciation Accounting 2102 Ch. 9 Activity 1 Depreciation for the first year =$27500020%=$55000 a. What is the book value at the end of the first year? $275000$55000=$220000 Accounting 2102 Chapter 9 - Activity II Instructions: Journalize each transaction below: 1. Installed hydraulic equipment on vehicle, $7,500 (cash); replaced two bad tires on Truck, $675 (paid cash); Rebuilt motor on Truck, $8,900 (cash). 2. On January 1 Equipment was purchased for $188,000 cash. It had an estimated satvage value of $8.000 and an estimated useful life of 9 years. Jouimalize the purchase and the first year s depreciation. using the straght-line method