Exercise 11-3 Flounder Corporation purchased a new plant asset on April 1, 2017, at a cost of $740,000. It was estimated to have a useful life of 20 years and a residual value of $320,000, a physical life of 30 years, and a salvage value of $0. Flounder's accounting period is the calendar year. Flounder prepares financial statements in accordance with IFRS. Calculate the depreciation for this asset for 2017 and 2018 using the straight-line method. (Round answers to 0 decimal places, e.g. 5,275.) Depreciation 2017 $ 2018 Calculate the depreciation for this asset for 2017 and 2018 using the double-declining-balance method. (Round answers to 0 decimal places, e.g. 5,275.) Depreciation 2017 $ 2018 $ Calculate the depreciation for this asset for 2017 and 2018 using the straight-line method and assuming Flounder prepares financial statements in accordance with ASPE. (Do not round intermediate calculations and round answers to 0 decimal places, e.g. 5,275.) Depreciation 2017 2018 Assume that additional information has been provided relating to the cost ($740,000). There are three components of the plant asset. Components 1, 2, and 3 have costs of $460,000, $200,000, and $80,000, respectively. The useful lives of components 1, 2, and 3 are 25, 20, and 30 years, respectively. Determine straight-line depreciation expense for 2017 and 2018 for each component under IFRS if the residual value is $160,000 for component 1, $88,000 for component 2, and $72,000 for component 3. (Do not round intermediate calculations and round answers to 0 decimal places, e.g. 5,275.) Depreciation expense 2017 2018 Component 1 Component 2 Component 3