On 31 December 2019, a new excavator with a useful life of 6 years and an estimated residual value of $26,000 was purchased by ABC business at a cost of $312,000. What is the amount of depreciation expense charged for the years ended 31 December 2020, and 31 December 2021, using the reducing-balance method at a rate of 20% per annum? Please answer the next two sub-questions

a) What is the amount of depreciation expense charged for the year ended 31 December 2020 using the reducing-balance method at a rate of 20% per annum?

b) What is the amount of depreciation expense charged for the year ended 31 December 2021 using the reducing-balance method at a rate of 20% per annum?