On August 3, Cinco Construction purchased special-purpose equipment at a cost of $1,000,000. The useful life of the equipment was estimated to be eight years, with an estimated residual value of $50,000.

Year	Straight Line Method (Half Year Convention)	Book Value
0		1,000,000
1	59,375	940,625
2	118,750	821,875
3	118,750	703,125
4	118,750	584,375
5	118,750	465,625
6	118,750	346,875
7	118,750	228,125
8	118,750	109,375
9	59,375	50,000 Residual Value
Total	950,000

b. Compute the depreciation expense to be recognized each calendar year for financial reporting purposes under the 200 percent declining-balance method (half-year convention) with a switch to straight-line when it will maximize depreciation expense.