On May 13, 2012, Caldwell Company bought equipment for $5,280. Its estimated life is four years with

Question:

On May 13, 2012, Caldwell Company bought equipment for $5,280. Its estimated life is four years with a residual value of $480. Prepare depreciation schedules for 2012, 2013, and 2014 for
(a) Straight-line
(b) Double declining-balance at twice the straight-line rate methods.