Meathead Inc. purchased a new piece of equipment that had a cost of $44,700 and a $7,000 residual value and placed it into service on May 1, Year 3. The equipment was installed at an additional cost of $4,300. The estimated life of the equipment is 6 years.

Calculate depreciation expense for this asset for year 3 and year 4. Enter your answers in the appropriate spaces provided. Round to the nearest dollar. Show all work.

Depreciation Method		Year 3	Year 4
Straight -line method:
Depreciation expense
Double declining balance method:
Depreciation expense