Waves Corp., which has a calendar fiscal year, purchased its only depreciable capital asset on 1 January 20x3.Information related to the asset Original cost Estimated residual value Depreciation method Depreciation rate $730,000 86,600 Declining balance 201 In 20x5, Waves decreased the estimated residual value to $30,600, and increased the depreciation rate to 40%. Both changes are the result of experience with the asset and revised expectations about the pattern of usage Additional information: 20s 2004 Revenue $3,326,000 $2,746,000 Expenses other than depreciation and tax 1,970.000 1,497.000 Gain (los) Izon discontinued operations, before tax 55,300 Tax rate 305 305 0 Required: 1-a. Calculate the ending 20x5 balance of accumulated depreciation Accumulated depreciation 1-b. Prepare the 20x5 entry for depreciation (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet