Question 24 (5 points) A Plant Asset was purchased on January 1, 2020, for $180,000. It was estimated that the asset would have a $24,000 salvage value at the end of its 8-year useful life. Depreciation is taken at twice the straight-line rate (double-declining balance method). Blank 1: Calculate double-declining balance rate (show your work and answer) Blank 2: Calculate 2020 depreciation expense Blank 3: Calculate 2021 depreciation expense Blank 4: Calculate 2022 depreciation expense (round to two decimal places) Blank # 1 Blank # 2 Blank # 3 Blank # 4