Question: =+EX 10-13 Depreciation by two methods obj. 2 a. $19,000 A storage tank acquired at the beginning of the fiscal year at a cost

=+EX 10-13 Depreciation by two methods obj. 2

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a. $19,000 A storage tank acquired at the beginning of the fiscal year at a cost of $172,000 has an estimated residual value of $20,000 and an estimated useful life of eight years.

Determine the following:

(a) the amount of annual depreciation by the straight-line method and

(b) the amount of depreciation for the first and second years computed by the double-declining-balance method.

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