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. 40. If the asset is depreciated under the sum-of the years' digits method, the denominator of the depreciation rate would be .... a. 55 b. 20 c. 15 d. 5 41. If the asset is acquired on January 1, 2016, and is depreciated under the sum-of-the-years'-digits method, first-year depreciation (rounded) would be ..... a. $81, 667 b. $60,000 c. $49,000 d. $20, 417 42. Under any GAAP depreciation method, the maximum depreciation permitted over the asset's life is .... a. $255,000 b. $250,000 c. $245,000 d. $200,000