Ivanhoe Chemicals Company acquires a delivery truck at a cost of $32,100 on January 1, 2022. The truck is expected to have a salvage value of $4,800 at the end of its 4-year useful life. Assuming the declining-balance depreciation rate is double the straight-line rate, compute annual depreciation for the first and second years under the declining-balance method.

		First Year		Second Year
Annual depreciation under declining-balance method