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On April 1, 2020, Ice Drilling Co. purchased a trencher for $155,000. The machine was expected to last five years and have a residual value

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On April 1, 2020, Ice Drilling Co. purchased a trencher for $155,000. The machine was expected to last five years and have a residual value of $15,500 Required: Calculate depreciation expense for 2020 and 2021 to the nearest month, using (a) the straight-line method, and (b) the double- declining balance method. The company has a December 31 year-end (Do not round intermediate calculations.) Straight Line Double Declining Balance Year 2020 2021

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