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Crane Chemicals Company acquires a delivery truck at a cost of $ 3 5 , 5 0 0 on January 1 , 2 0 2

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Crane Chemicals Company acquires a delivery truck at a cost of $35,500 on January 1,2025. The truck is expected to have a salvage value of $2,600 at the end of its 5-year useful life. Assuming the declining-balance depreciation rate is double the straight-line rate, compute annual depreciation for the first and second years under the declining-balance method.
\table[[,First Year,Second Year,],[Annual depreciation under declining-balance method,$,$,]]
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