Brief Exercise 9-13 Crane Chemicals Company acquires a delivery truck at a cost of $35,500 on January 1, 2022. The truck is expected to have a salvage value of $2,600 at the end of its 5- year useful life. Assuming the declining-balance depreciation rate is double the straight-line rate, compute annual depreciation for the first and second years under the declining balance method. Second Year First Year Annual depreciation under declining-balance methods