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Consider the following data on an asset: Cost of asset, P Salvage value, S $118,000 5 years S20,000 Compute the annual depreciation allowances and the

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"Consider the following data on an asset: Cost of asset, P Salvage value, S $118,000 5 years S20,000 Compute the annual depreciation allowances and the resulting book values, using (a) The Straight-Line (SL) depreciation method, (b) Sum-Of-the-Years' Digits (SOYD) method, (c) Declining Balance (DB) method (with switching to SL if required), and (d) If the salvage value has changed to S8,000, Double Declining Balance (DDB) method (with switching to SL if required

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