Talias Tutus bought a new sewing machine for $60,000 that will be depreciated over 5 years using double-declining-balance depreciation with a switch to straight-line.

Required:

a. Find the depreciation charge each year.

b. If the sewing machine is sold after 2 years for $40,000, what will be the after-tax proceeds on the sale if the firms tax bracket is 35%?