eBook Show Me How Depreciation by Two Methods A storage tank acquired at the beginning of the fiscal year at a cost of $72,000 has an estimated residual value of $4,000 and an estimated useful life of 10 years. a. Determine the amount of annual depreciation by the straight-line method. 6,800 V b. Determine the amount of depreciation for the first and second years computed by the double-declining-balance method. Do not round the double-declining balanc Year 1 Depreciation 7,200 X Year 2 6,480 X Feedback