Depreciation by two methods A Kubota tractor acquired on January 8 at a cost of $98,000 has an estimated useful life of 4 years. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet Assuming that it will have no residual value, determine the depreciation for each of the first two years: a. by the straight-line method. Round your answers to the nearest dollar. b. by the double-declining-balance method. Round your answers to the nearest dollar. Check My Work a. Straight-line depreciation allocates the depreciable cost of the asset equally over the asset's estimated useful life. Note: If an asset is used for only part of a year, the depreciation is prorated based on the number of months the asset is in service