A plant asset acquired on October 1, 2021, at a cost of $380,000 has an estimated useful life of 10 years. The salvage value is estimated to be $38,000 at the end of the asset's useful life. - Your answer is partially correct. Determine the depreciation expense for the first two years using the straight-line method. Year 1 Year 2 Straight-line method $ 34200 $ 34200 e Textbook and Media * Your answer is incorrect. Determine the depreciation expense for the first two years using the double-declining-balance method. Year 1 Year 2 Double-declining-balance method $ 76000 $ 60800