Exercise 258 (Part Level Submission) A plant asset acquired on October 1, 2017, at a cost of $800,000 has an estimated useful life of 10 years. The salvage value is estimated to be $50,000 at the end of the asset's useful life. (a) Your answer is partially correct. Try again. Determine the depreciation expense for the first two years using the Straight-line method. Year 2 Year 1 75000 75000 Straight-line method Click if you would like to Show Work for this question: Open Show Work Attempts: 2 of 4 used SAVE FOR LATER SUB SUBMIT ANSWER (b) Your answer is incorrect. Try again Determine the depreciation expense for the first two years using the Double-declining-balance method Year 2 Year 1 150000 Double-declining-balance method 120000 Click if you would like to Show Work for this question: Open Show Work