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Kenartha Oil recently paid $ 4 9 8 , 9 0 0 for equipment that will last five years and have a residual value of

Kenartha Oil recently paid $498,900 for equipment that will last five years and have a residual value of $124,000. By using the machine in its operations for five years, the company expects to earn $190,000 annually, after deducting all expenses except depreciation. Complete the schedule below assuming each of (a) straight-line depreciation and (b) double-declining-balance depreciation. (Do not round intermediate calculations. Enter loss amounts with a minus sign.)
\table[[(a),Straight-Line Depreciation:,Year 1,Year 2,Year 3,Year 4,Year 5,5-Year Totals],[],[,Profit before depreciation,,,,,,-2],[,Depreciation expenses,,,,,,F],[,Profit (loss),,,,,,],[,,,,,,,],[(b),Double-Declining-Balance Depreciation:,,,,,,],[,Year 1,Year 2,Year 3,Year 4,Year 5,5-Year Totals],[Profit before depreciation,,,,,,],[Depreciation expenses,,,,,,],[Profit (loss),,,,,,E]]
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