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A tractor acquired on January 9 at a cost of $126,000 has an estimated useful life of six years. Assume that it will have no
A tractor acquired on January 9 at a cost of $126,000 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 YearSecond Year$$b.Determine the depreciation for each of the first two years by thedouble-declining-balance method. Do not round the double-declining balance rate. If required, round your final answer to the nearest dollar.
First YearSecond Year$$
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