Equipment purchased at the beginning of the fiscal year at a cost of $280,000 is expected to have a useful life of four (4) years and a salvage value of $40,000.

Respond to the following questions using this information.

a.What is the amount of depreciation for year one (1) using the straight-line method? b.What is the book value at the end of the first year using the straight-line method? c. What is the depreciation for year one (1) using the double-declining-balance method? d.What is the book value at the end of the first year using the double-declining-balance method? e.What is the depreciation for year two (2) using the double-declining-balance method? f. What is the book value at the end of the second year using the double-declining-balance method? g. What is the book value at the end of year four using the double-declining-balance method?