Accelerated Depreciation Koffman's Warehouse purchased a forklift on January 1, 2012, for $140,000. The forklift is expected to last for five years and have a residual value of $11,000. Koffman's uses the double declining-balance method for depreciation. Required: 1. Calculate the depreciation expense, accumulated depreciation, and book value for each year of the forklift?s life. If necessary, round any depreciation calculations to the nearest dollar. 2 & 3. In calculating the depreciation under the double declining balance method, the amount of depreciation taken in the first year is compared to the other years because the rate used is the straight line rate. This first year compared to the four future years will show net income. This depreciation method is most appropriate for assets that in usefulness as a result of or factors