Question Seven: Declining balance depreciation On July 6, 2014, Grayson purchased new machinery with an estimated useful life of 10 years. The cost of the equipment was $80,000, with a residual value of $8,000. Compute the depreciation on this machinery in 2014 and 2015 using each of the following methods. 2014 2015 $ (a) 150%-declining-balance, using the half-year convention (b) 200o-declining-balance, using the half-year convention $