Depreciation: Straight-Line and Double Declining Balance A piece of heavy equipment acquired on January 1 at a cost of $270,000 has an estimated useful life of 25 years. Assuming that it will have no residual value. a. Determine the depreciation for each of the first two years ending December 31 by the straight-line method. Round your answer to the nearest cent if rounding is required. Depreciation First year Second year b. Determine the depreciation for each of the first two years ending December 31 by the double-declining-balance method. Round your answer to the nearest cent if rounding is required. Depreciation First year Second year