Kenartha Oil recently paid $477,900 for equipment that will last five years and have a residual value of $110,000. By using the machine in its operations for five years, the company expects to earn $176,000 annually, after deducting all expenses except depreciation. Complete the schedule below assuming each of (a) straight-line depreciation and (b) double-declining-balance depreciation. (Enter loss amounts with a minus sign.)

(a)	Straight-Line Depreciation:
		Year1	Year2	Year3	Year4	Year5	5-Year Totals
	Profit before depreciation
	Depreciation expenses	73,580	73,580	73,580	73,580	73,580
	Profit(loss)
(b)	Double-Declining-Balance Depreciation:
		Year1	Year2	Year3	Year4	Year5	5-year Totals
	Profit before depreciation
	Depreciation expenses
	Profit (loss)