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Crane Company acquires equipment at a cost of $39,900 on January 3, 2021. Management estimates the equipment will have a residual value of $5,700 at
Crane Company acquires equipment at a cost of $39,900 on January 3, 2021. Management estimates the equipment will have a residual value of $5,700 at the end of its 4-year useful life. Assume that the company uses the diminishing-balance method and that the diminishing-balance depreciation rate is double the straight-line rate. Calculate the depreciation expense for each year of the equipment's life. (Do not leave any answer field blank. Enter for amounts.) Depreciation - 2021 $ Depreciation - 2022 $ Depreciation - 2023 $ Depreciation - 2024 $
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