On January 2 Able Company acquired a tractor at a cost of $300,000. The tractor has an estimated useful life of 5 years, or 25,000 miles. The estimated residual value is $50,000. The tractor was driven 8,000 miles in Year One and 7,000 miles in Year 2. Answer the following: Straight-line method 1. Year 1 depreciation 2. Tractor value at the end of Year 1 3. Year 2 depreciation 4. Tractor value at the end of Year 2 Units of Production method 5. Year 1 depreciation 6. Tractor value at the end of Year 1 7. Year 2 depreciation 8. Tractor value at the end of Year 2 Double Declining method 9. Year 1 depreciation 10. Tractor value at the end of Year 1 11. Year 2 depreciation 12. Tractor value at the end of Year 2