Depreciation: Straight-line and double-declining-balance Bayside Coatings Company purchased waterproofing equipment on January 2, 20Y4, for $220,000. The equipment was expected to have a useful life of 4 years and a residual value of $9,000. Instructions: Determine the amount of depreciation expense for the years ended December 31, 20Y4, 20Y5, 20Y6, and 20Y7, by (a) the straight-line method and (b) the double-declining-balance method. Also, determine the total depreciation expense for the 4 years by each method