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 Profit (loss)

Double-Declining-Balance Depreciation:Year1 Year2 Year3 Year4 Year5 5-year Totals Profit before depreciation Depreciation expenses Profit (loss)