On January 1, 2018, Hobart Mfg. Co. purchased a drill press at a cost of $52,400. The drill press is expected to last 10 years and has a residual value of $6,800. During its 10-year life, the equipment is expected to produce 500,000 units of product. In 2018 and 2019, 29,000 and 92,000 units, respectively, were produced.

Required: Compute depreciation for 2018 and 2019 and the book value of the drill press at December 31, 2018 and 2019, assuming the double- declining-balance method is used. 2018 2019 Depreciation Book Values