Newbirth Coatings Company purchased waterproofing equipment on January 2, 2009, for $380,000. The equipment was expected to have a useful life of four years, and a residual value of $36,000.InstructionsDetermine the amount of depreciation expense for the years ended December 31, 2009, 2010, 2011, and 2012, by(a) The straight-line method and(b) The double-declining-balance method. Also determine the total depreciation expense for the four years by each method. The following columnar headings are suggested for recording the depreciation expenseamounts:

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Depreciation Expense Straight-Line Method Double-Declining-Balance Method Year