Tory Enterprises pays $238,400 for equipment that will last five years and have a $43,600 salvage value. By using the equipment in its operations for five years, the company expects to earn $88,500 annually, after deducting all expenses except depreciation. (Round your answers to the nearest whole dollar.)

Calculate annual depreciation expenses using double-declining-balance method.

Exercise 8-10 Double-declining-balance depreciation LO P1 Tory Enterprises pays $238,400 for equipment that will last five years and have a $43,600 salvage value. By using the equipment in its operations for five years, the company expects to earn $88,500 annually, after deducting all expenses except depreciation. (Round your answers to the nearest whole dollar.] Calculate annual depreciation expenses using double-declining-balance method. De for the Period End of Period Beginning of Depreciation Period Book Annual Accumulated Book Value Rate Value Year 1 Year 2 Year 3 Year 4 Year 5 Total 238,400 40%) $ 47,680 5 47,680 Prepare a table showing income before depreciation, depreciation expense, and net (pretax) income for each year and for the total five-year period, assuming double-declining-balance depreciation. (Net loss should be entered with a minus sign.) Income Before Depreciation Net (Pretax) Depreciation Expense (Loss) Year 1 Year 2 Year 3 Year 4 Year 5 Totals Exercise 8-10 Double-declining-balance depreciation LO P1 Tory Enterprises pays $238,400 for equipment that will last five years and have a $43,600 salvage value. By using the equipment in its operations for five years, the company expects to earn $88,500 annually, after deducting all expenses except depreciation. (Round your answers to the nearest whole dollar.] Calculate annual depreciation expenses using double-declining-balance method. De for the Period End of Period Beginning of Depreciation Period Book Annual Accumulated Book Value Rate Value Year 1 Year 2 Year 3 Year 4 Year 5 Total 238,400 40%) $ 47,680 5 47,680 Prepare a table showing income before depreciation, depreciation expense, and net (pretax) income for each year and for the total five-year period, assuming double-declining-balance depreciation. (Net loss should be entered with a minus sign.) Income Before Depreciation Net (Pretax) Depreciation Expense (Loss) Year 1 Year 2 Year 3 Year 4 Year 5 Totals