A plant asset acquired on July 1,2030 , at a cost of $400,000 has an estimated useful life of 10 years. The salvage value is estimated to be $40,000 at the end of the asset's useful life. (Hint: Pay attention to the acquisition/purchase date.) - When typing your responses, do NOT include a dollar sign. For example, if your answer is $10,000, you should be typing 10,000 or 10,000.00 without any dollar sign. Compute annual depreciation for the first and second years using the Straight-line method. Resnonse - Straight-Line Depreciation Compute annual depreciation for the first and second years using the Double-declining-balance method