Double-Declining-Balance Depreciation A building acquired at the beginning of the year at a cost of $98,400 has an estimated residual value of $3,000 and an estimated useful life of 4 years. Determine the following (a) The double-declining-balance rate (b) The double-declining-balance depreciation for the first year $ 9. BE.09-07.ALGO (Algorithmic) Depletion Earth's Treasures Mining Co. acquired mineral rights for $112,500,000. The mineral deposit is estimated at 90,000,000 tons. During the current year, 27,900,000 tons were mined and sold a. Determine the depletion rate. If required, round your answer to two decimal places. per ton b. Determine the amount of depletion expense for the current year. c. Journalize the adjusting entry on December 31 to recognize the depletion expense. Dec. 31