Straight$-$Line, Declining$-$Balance, and Sum$-$of$-$the$-$Years'$-$Digits Methods

Round your answers to the nearest cent.

Depreciation Expense

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Straight$-$line method: $($Cost $-$ Salvage Value$)\frac{?}{?}$ Years of Life $=$ Depreciation Expense

Double$-$declining$-$balance method: Depreciation Rate life $2$ Book Value $=$ Depreciation Expense

Double$-$declining$-$balance is double the rate of the straight$-$line method. Salvage value is not considered.

Sum$-$of$-$the$-$years'$-$digits method: $($Cost $-$ Salvage Value$)$ Factor $=$ Depreciation Expense

Factor:

Remaining life from beginning of year

Sum$-$of$-$the$-$years'