Depreciation by Two Methods

Kubota tractor acquired on January 8 at a cost of $225,000 has an estimated useful life of ten years. Assuming that it will have no residual value.

a.Determine the depreciation for each of the first two years by the straight-line method.

$First Year & $Second Year

b.Determine the depreciation for each of the first two years by the double-declining-balance method. Do not round the double-declining balance rate. If required, round your final answer to the nearest dollar.

$ First Year $Second Year