Both the straight-line depreciation method and the double-declining-balance Produce the same total depreciation over an assets useful life Produce the same depreciation expense each year Produce the same book value each year Are acceptable for tax purposes only Are the only acceptable methods of depreciation for financial reporting The formula for computing annual straight-line depreciation is: Depreciable cost divided by useful life in units Cost plus salvage value divided by the useful life in years. Cost less salvage value divided by the useful life in years. Cost divided by useful life in years. Cost divided by useful life in units. The total cost of an asset less its accumulated depreciation is called: Historical cost Book value Present value Current (market) value Replacement cost A method that allocates an equal portion of the total depreciable cost for a produced is called Accelerated depreciation Declining-balance depreciation Straight-line depr