At the beginning of Year $1,$ Copeland Drugstore purchased a new computer system for $$52,000.$ It is expected to have a five$-$year life

and a $$7,000$ salvage value.

Required

a$.$ Compute the depreciation for each of the five years, assuming that the company uses

$(1)$ Straight$-$line depreciation.

$(2)$ Double$-$declining$-$balance depreciation.

b$.$ Record the purchase of the computer system and the depreciation expense for the first year under straight$-$line and double$-$

declining$-$balance methods in a financial statements model.

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