Culver Corporation purchased a boardroom table for $23,000. The company planned to keep it for four years, after which it was expected to be sold for $1,000. (a) Calculate the depreciation expense for each of the first three years under (1) the straight-line method, and (2) the double- diminishing-balance method, assuming the company purchased the table early in the first month of the first year. (1) Straight-line method. Year 1 Year 2 Year 3 Year 1 Year 2 $ (2) Double-diminishing-balance method. Year 3 $ $ LA $ $ $ eTextbook and Media

Culver Corporation purchased a boardroom table for $23,000. The company planned to keep it for four years, after which it was expected to be sold for $1,000. (a) Calculate the depreciation expense for each of the first three years under (1) the straight-line method, and (2) the doublediminishing-balance method, assuming the company purchased the table early in the first month of the first year. (1) Straight-line method. Year 1 Year 2$ Year 3$ (2) Double-diminishing balance method. Year 1 Year 2 Year 3