My Home xCengageNOWv2 | Online teachin XS SOLUTION accounting - Accoux m/takeAssignment/takeAssignmentMain.do?invoker &takeAssignmentSessionLocator-Binprogress-false eBook Show Me How PrintItem Depreciation by Two Methods + C 4 A storage tank acquired at the beginning of the fiscal year at a cost of $80,000 has an estimated residual value of $5,000 and an estimated useful life of 10 years a. Determine the amount of annual depreciation by the straight-line method. b. Determine the amount of depreciation for the first and second years computed by the double-declining-balance method. Do not round the double- declining balance rate. If required, round your answers to the nearest dollar. Depreciation Year 1 $ Year 2 $ Check My Work Previous 40 11:16 AM 12/19/2020