Question: Depreciation by two methods OBJ. 2 A John Deere tractor acquired on January 4 at a cost of $120,000 has an estimated useful life of

Depreciation by two methods OBJ. 2 A John Deere tractor acquired on January 4 at a cost of $120,000 has an estimated useful life of 25 years. Assuming that it will have no residual value, determine the depreciation for each of the first two years

(a) by the straight-line method and

(b) by the doubledeclining-balance method.

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