Partial-Year Depreciation Equipment acquired at a cost of $99,000 has an estimated residual value of $6,000 and an estimated useful life of 10 years. It was placed into service on October 1 of the current fiscal year, which ends on December 31. If necessary, round your answers to the nearest cent. a. Determine the depreciation for the current fiscal year and for the following fiscal year by the straight-line method. Depreciation Year 1 $ Year 2 b. Determine the depreciation for the current fiscal year and for the following fiscal year by the double-declining-balance method. Depreciation Year 1 $ Year 2 A truck acquired at a cost of $430,000 has an estimated residual value of $25,750, has an estimated useful life of 55,000 miles, and was driven 4,400 miles during the year. Determine the following. If required, round your answer for the depreciation rate to two decimal places. a. The depreciable cost b. The depreciation rate c. The units-of-activity depreciation for the year Feedback Check My Work per mile Depreciable cost is the difference between the asset's initial cost and its residual value. The residual value is the estimated value at the end of the useful life. Annual units-of-production depreciation allocates the cost of the asset equally over the expected productive capacity.