QUESTION: The first cost of an excavator with an economic life of 5 years is 1.700.000 $ and the scrap value is 200.000 $. If the contractor buys this excavator, he will earn 550,000 $ per year (excluding depreciation). With the book values of this excavator at the end of each year, if 30% of the net income is to be paid as income tax, calculate the tax to be paid by the contractor at the end of each year according to the Double Declining Balance Depreciation Method and depreciation sum-of-the-years-digits method. End of the year Depreciation Book value Annual income Net income Tax End of the year Depreciation Book value Annual income Net income Tax