EX$\mathrm{.}10\mathrm{.}10.$ALGO $($Algorithmic$)$

Depreciation by Two Methods

A storage tank acquired at the beginning of the fiscal year at a cost of $$75,000$ has an estimated residual value of $$4,500$ and an estimated useful life of five years.

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

Depreciation

Year $1$

Year $2$