Your website ALREADY has this problem with 2 answers.

First year $ 18,750 ( CORRECT)

BUT,

The 2nd year the answer is $14,062.50 ( WRONG NUMBER ),

SO if you can please solve the 2nd year for me.

Thank you

Depreciation Methods Albany Corporation purchased equipment at the beginning of Year 1 for $75,000. The asset does not have a residual value and is estimated to be in service for 8 years. Calculate the depreciation expense for Years 1 and 2 using the double-declining-balance method. Round to the nearest whole dollar.