Gerarse eBook Show Me How Office 365 Partial-year depreciation Equipment acquired at a cost of $109,000 has an estimated residual value of $7,000 and an estimated useful life of 10 years. It was placed in service on May 1 of the current fiscal year, which ends on December 31. This information has been collected in the Microsoft Excel Online file Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet . Determine the depreciation for the current focal yout and for the following nscal year by the straight-live method, Round your answers to the nearest coller Depreciation $ Year 1 Year 2 $ b. Determine the depreciation for the current local year and for the following local year by the double-docring-alance method. De rest round the double declining balance rate. Round your answers to the nearest dollar. Depreciation Year 1 s Year 2 $ Check My Work Previous Submit Anment for Grading