Use the following information to answer Questions 36-42: A company that uses a calendar year purchases an asset with a historical cost of $250,000, a residual value of $5,000 and an estimated life of 5 years. Under the straight-line method, the depreciation rate is .... a. 40% b. 20% c. 10% d. 5% If the asset is acquired on September 30, 2016, first-year depreciation under the straight-line method is .... a. $50,000 b. $49,000 c. $25,000 d. $12, 250 If the asset is acquired on January 1, 2016, first-year depreciation under the double-declining balance method is ..... a. 40% b. 20% c. 25% d. 5% If the asset is acquired on January 1, 2016, and is depreciated under the double-declining balance method, second-year depreciation is ... a. $100,000 b. $60,000 c. $50,000 d. $25,000