Depreciation: Straight-Line and Double Declining Balance A piece of heavy equipment acquired on January 1 at a cost of $261,000 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 2 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 2 years ending December 31 by the double-declining-balance method. Round your answer to the nearest cent if rounding is required. First year Second year Depreciation