Depreciation and Rate of Return

Burrell Company purchased a machine for $$20,000$ on January $2,2019.$ The machine has an estimated service life of $5$ years and a zero estimated residual value. The asset earns income before depreciation and income taxes of $$10,000$ each year. The tax rate is $21\%.$

Required:

Compute the rate of return earned $($on the average net asset value$)$ by the company each year of the asset's life under the straight$-$line and the double$-$declining$-$balance depreciation methods. Assume that the machine is the company's only asset.

Straight$-$line method. If required, round to one decimal place.

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