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A tractor acquired on January 9 at a cost of $216,000 has an estimated useful life of six years. Assume that it will have noresidual
A tractor acquired on January 9 at a cost of $216,000 has an estimated useful life of six years. Assume that it will have noresidual value.
a. Determine the depreciation for each of the first two years by thestraight-line method.
First Year | Second Year |
$ | $ |
b. Determine the depreciation for each of the first two years by thedouble-declining-balance method. Do not round the double-declining balance rate. If required, round your final answer to the nearest dollar.
First Year | Second Year |
$ | $ |
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