A company purchases equipment costing $50 000, life of 6 years and a residual value of $5 000. Based on a full year. a) Prepare a schedule of depreciation using the straight-line method. Based on a full year. Straight-line Depreciation Year Depreciation 1 2 3 4 5 6 Balance $50.000 b) For the same equipment, prepare a schedule of depreciation the declining-balance method. Canada Customs and Revenue Agency's prescribed rate for depreciation is 30%. Based on a full year. Declining Balance Year Depreciation Balance $50 000 1 2 3 4 5 6