Sierra Concrete Pty Ltd purchased two new cement trucks on 1 January 2023, at a cost of \($350\) 000. The accountant estimated the trucks would have a residual value of \($20\) 000 each at the end of their useful lives. It is company policy to keep the cement trucks for 6 years. Ignore GST.

Required

(a) Assuming a financial year ending 30 June, calculate the amount of depreciation expense for each year ending 30 June 2023 through to 30 June 2029, with each of the following methods:

i. straight-line ii. diminishing balance.