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Depreciation: Straight$-$Line and Double$-$Declining$-$Balance

Equipment acquired at the beginning of the fiscal year at a cost of $$126,500$ has an estimated residual value of $$3,500$ and an estimated useful life of $20$ years.

This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.

Open spreadsheet

a$.$ Determine the amount of annual depreciation by the straight$-$line method.

fill in the blank $1$ of $1$$

b$.$ Determine the amount of depreciation for the first and second years computed by the double$-$declining$-$balance method.

Year Depreciation

Year $1$ $fill in the blank $3$

Year $2$ $fill in the blank $4$