-7 Calculating depreclation Lo2 eXcel CHECK FIGURE: b. $45,360 Jackal Energe is ive years or 240,000 kilometres with an estimated residual value of $46,400. Reguired Caleulate depreciation expense for the year ended December 31, 2017, using each of the follow purchased a transport truck on January 1, 2017, for $238,400 cash. Its estimated useful life ing methods a Straight-line c. Units-of-production (assume 38,000 kilometres were actually driven in 2017) Analiysis Component: Which depreciation method will produce the highest profit for Jackal in 2017? Exercise 9-12 Income statement effects of alternative depreclation methods L02 eXcel CHECK F GURE: b. Depreciation expense, Year 3 $64.344 Kenartha Oil recentlg paid $470,400 for equipment that will last five gears and have a residual value of $106,000. By using the machine in its operations for five gears, the company expects to earn $171,000 an- nuallg, after deducting all expenses except depreciation. Complete the schedule below assuming each of () straight-ine depreciation and (b) double -declining-balance depreciation. -Year Profit belore depreciation Analyals Component: If Kenartha Ol wants the Year I balance sheet to show the highest value possible for the equipment, which depreciation method will it choose? Explain