A machine costing 542,500 with a 5-year life and $2,600 residual value was purchased January 2. Compute depreciation for each of the five years, using the double-declining balance method Year 1 Year 2 III Year 3 Year 4 Year 5 Units-of-activity Depreciation A truck acquired at a cost of $430,000 has an estimated residual value of $25,750, has an estimated useful life of 49,000 miles, and was driven 3,900 miles during the year. Determine the following. If required, round your answer for the depreciation rate to two decimal places. (a) The Depreciable Cost (b) The Depreciation Rate (c) The Units-of-activity Depreciation for the Year per mile Equipment purchased at the beginning of the fiscal year for $360,000 is expected to have a useful life of 5 years, or 14,000 operating hours, and a residual value of $10,000 Compute the depreciation for the first and second years of use by each of the following methods. a. Straight-line: First year Second year b. Units-of-output (1,200 hours first year; 2,250 hours second year) First year 1.00.00 Second year c. Double-declining-balance: First year Second year Intra-Spect Mining Co. acquired mineral rights for $102,000,000. The mineral deposit is estimated at 85,000,000 tons. During the current year, 22,100,000 tons were mined and sold. a. Determine the depletion rate. If required, round your answer to two decimal places per ton b. Determine the amount of depletion expense for the current year. c. Journalize the adjusting entry on December 31 to recognize the depletion expense. Dec. 31