On January 1, 2019, Mick Corporation purchased a delivery truck for $64,000. Mick also paid freight charges and sales taxes of $4,200 and $2,000 to paint a sign on the truck. The truck has an estimated useful life of 5 years and an estimated salvage value of $ 4,500.

1. Straight Line: Use the SL function in excel to calculate the annual depreciation for the years 2019 through the end of the asset useful life. Use the Excel template provided to prepare a depreciation schedule for the years 2019 through the end of the asset useful life using the straight-line method. Use excel formulas to compute Depreciation Expense, Accumulated Depreciation, and Book Value for each year.
2. Double Declining Balance. Use the DDB function to calculate the annual depreciation for the years 2019 the end of the asset useful life. Use the Excel template provided to prepare a depreciation schedule for the years 2018 through the end of the asset useful life using the double-declining balance method. Use excel formulas to compute Depreciation Expense, Accumulated Depreciation, and Book Value for each year.

Thank you