The Daily Revue purchased a printing press on March 8, 2019, for $250,000. The press was estimated to have a $10,000 salvage value and a 10 year life. The company uses the half year convention for depreciation.

At January 1, 2022, the company evaluated the printing press and concluded that they would replace it in five years at which time it would have a salvage value of $5,000. Calculate depreciation for 2022 assuming the company uses (a) straight-line and (b) double declining balance to estimate depreciation.

Straight-line

DDB