Equipment acquired at a cost of $105000 has an estimated residual value of $12000 an estimated useful life of 10 years. It was placed into service on May 1st of the current fiscal year, which ends on December 31st. a. determine the depreciation for the current fiscal year and for the following fiscal year by the straight line method.

depreciation year 1 year 2

b. determine the depreciation for the current year and for the following fiscal year by the double declining balance method.

depreciation year 1 year 2