Your company has just purchased a new asset for $940,000. The asset has a useful life of 5 years. At the end of this time the asset is expected to have a salvage value of $240,000. a. [1 point] Compute the annual depreciation allowances and the resulting book values, using the straight line depreciation method b. [1 point] Compute the annual depreciation allowances and the resulting book values, using the double declining balance method, making all appropriate corrections.