MFP Inc. purchased a machine on Jan $1$ of the current year for $$11,800$ with a residual value of $$1400$ and

an expected useful life of $5$ years.

Using the Double Declining Balance Nethod, calculate:

a$)$ The Straight$-$line rate $($calculate as percent$)$

$86$

b$)$ The Double$-$declining rate $($calculate as percent$)$

$\%$

Show calculation for rates below:

c$)$ The Depreciation Expense for the year $1$:

$$

d$)$ The Ending book value for year $1$

s

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e$)$ The Depreciation Expense for year $2$:

s

f$)$ Book value at the end of Year $2$

Show Year $2$ calculations below: