Please help me do the following question as instructed and would be glad if explanation is provided as well.

Equipment costing $76,000 was purchased by Taiwan Company at the beginning of the current year. The company will depreciate the equipment by the declining-balance method, but it has not determined whether the rate will be at 150 percent or 200 percent of the straight-line rate. The estimated useful life of the equipment is eight years. Prepare a comparison of the two alternative rates for management for the first two years Taiwan owns the equipment. (Round your answers to the nearest dollar amount. Omit the "$" sign in your response.) Year 1 Year 2 Double-declining balance depreciation: 150% declining-balance depreciation (Click to select) Click to select) excess of double declining-balance over 150% declining-balance Excess of 150% declining-balance over double declining-balance