On October $1,2024,$ Holton corporation places a new asset and the service the cost of the asset is $80,000$ with an estimated life of five years and a $20,000$ salvage value at the end of its life assume that Holton uses the double declining balance method of depreciation

On October $1,2024,$ Holton Corporation places a new asset into service. The cost of the asset is $$80,000$ with an estimated $5-$year life and $$20,000$ salvage value at the end of its useful life. Assume that Holton uses the doubledeclining$-$balance method of depreciation.

Do not type $ sign and commas in your answer.

Please answer the following questions:

A$.$ What is depreciation expense on December $31,2024?$

B$.$ What is depreciation expense on December $31,2025?$

Question $15$

Journalize the following transactions: Payne Company issues $4,000$ shares of $$5$ par value common stock for $$140,000.$

Please do not use $"$$$"$ or commas in your answers.