Depreciation by two methods A storage tank acquired at the beginning of the fiscal year at a cost of $86,400 has an estimated residual value of $5,200 and an estimated useful life of 4 years. a. Determine the amount of annual depreciation by the straight-line method. 20,300 b. Determine the amount of depreciation for the first and second years computed by the double-declining-balance method. Do not round the double-declining balance rate. If required, round your answers to the nearest dollar. Year 1 Year 2 Depreciation $ $

Depreciation by two methods A storoge tank acquired at the beginning of the fiscal year at a cost of $86,400 has an estimeted residual value of $5,200 and an esomated useful ife of 4 yeare. a. Determine the amount of annual depreciation by the straight-iine method 4 b. Determine the amaunt of depreciation for the first and second vears computed by the double-declining balance method: Do not round the double-declining balance rate. If required, round your answers to the nearest dollar