A pressurized spray painter was purchased on April 1 of the fiscal year for $3,900. It has a useful life of 4 years and a residual value of $300.

a.Determine depreciation expense for the first two years, assuming a fiscal year end of December 31 and using the straight-line method.

Year 1$

Year 2$

b.Determine depreciation expense for the first two years, assuming a fiscal year end of December 31 and using the double-declining-balance method. Round your answers to two decimal places.

Year 1$

Year 2$