On January 1, 2015, XIT Marketing bought a company car for $45,000. It has estimated residual value of $4,500 and an estimated useful life of five years. The company uses double-declining-balance amortization. Prepare an amortization schedule for the car. Before completing the double-declining-balance schedule, calculate the double-declining-balance rate. (Round the rate to two decimal places.) SL Amortization DDB rate Rate X Multiplier = DDB rate Complete the Double-Declining-Balance Amortization Schedule. Start by completing the first two years, and then complete the remaining years. (Enter the rate to two decimal places. Round the amortization expense to the nearest whole number. Enter the final year using the method described in the text. If a box is not used in the table, leave the box empty; do not enter a zero.) Double-Declining-Balance (DDB) Amortization Schedule Asset Cost DDB Rate Asset Book Amortization Accumulated Value Expense Amortization Asset Book Value Date Jan 1, 2015 Dec 31, 2015 Dec 31, 2016 Dec 31, 2017 Dec 31, 2018 Dec 31, 2019