Sandblasting equipment acquired at a cost of $54,000 has an estimated residual value of $10,800 and an

Question:

Sandblasting equipment acquired at a cost of $54,000 has an estimated residual value of $10,800 and an estimated useful life of 12 years. It was placed in service on April 1 of the current fiscal year, which ends on December 31. Determine the depreciation for the current fiscal year and for the following fiscal year by
(a) The straight-line method and
(b) The declining-balance method, at twice the straight-line rate.