Talia's Tutus bought a new sewing machine for $85,000 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 3 years for $35,000, what will be the after-tax proceeds on the sale if the firm's tax bracket is 35%?

Required A

Year Depreciation

1 ?

2 ?

3 ?

4 ?

5 ?

Required B

If the sewing machine is sold after 3 years for $35,000, what will be the after-tax proceeds on the sale if the firm's tax bracket is 35%?

After-tax proceeds ?