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Computing Straight-Line and Double-Declining-Balance Depreciation On January 2, Haskins Company purchases a laser cutting machine for use in fabrication of a part for one of

Computing Straight-Line and Double-Declining-Balance Depreciation

On January 2, Haskins Company purchases a laser cutting machine for use in fabrication of a part for one of its key products. The machine cost $112,000, and its estimated useful life is five years, after which the expected salvage value is $7,000. Compute depreciation expense for each year of the machine's useful life under each of the following depreciation methods:

Note: Round answers to the nearest whole number, when applicable.

a. Straight-line

Year 1
Year 2
Year 3
Year 4
Year 5

b. Double-declining-balance

Year 1
Year 2
Year 3
Year 4
Year 5

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