On July 1, 2014, Yorkton Company purchased for $375,000 equipment having an estimated useful life of eight years with an estimated residual value of $62,500. Depreciation is calculated to the nearest month. The company has a December 31 year-end.

Required
Complete the following schedules (round calculations to the nearest wholedollar):

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2014 2015 2016 1. Double-declining-balance method Less: Accumulated depreciation.. Depreciation expense for the year.... 2. Straight-line method Less: Accumulated depreciation. Depreciation expense for the year.