Partial-year depreciation

Equipment acquired at a cost of $105,000 has an estimated residual value of $12,000 and an estimated useful life of 10 years. It was placed into service on May 1 of the current fiscal year, which ends on December 31.

a. Determine the depreciation for the current fiscal year and for the following fiscal year by the straight-line method.

Year	Depreciation
Year 1	fill in the blank 1 of 2$
Year 2	fill in the blank 2 of 2$

b. Determine the depreciation for the current fiscal year and for the following fiscal year by the double-declining-balance method.

Year	Depreciation
Year 1	fill in the blank 1 of 2$
Year 2	fill in the blank 2 of 2$