Calculating Depreciation. The Miller Company purchased a new headquarters building on January 1 at a cost of $70 million. The building is expected to last 20 years, at which time its residual value is expected to be $5 million.

Required

Calculate the depreciation expense for each of the first three years on the new headquarters building using each of the following methods:

Enter answers in millions, rounding to two decimal places. For example, $3,750,000 equals $3.75 million.

		Year 1		Year 2		Year 3
1.	Straight-line	$Answer	million	$Answer	million	$Answer	million
2.	Double-declining balance	$Answer	million	$Answer	million	$Answer	million

Does the choice of depreciation method impact a firm's cash flow from operations?

AnswerYesNo