Chapter 8 Assignment Question 4 of 15 < > View Policies Show Attempt History Current Attempt in Progress 0.5/1 On June 6, 2020, Lindhardt Chocolates Ltd. purchased assembly line equipment for $408,960. Lindhardt's management estimated that the equipment had a useful life of four years and an estimated residual value of $28,800. Lindhardt uses the straight-line method of depreciation and has a December 31 year end. On June 21, 2022, the machine was sold for $171,000. Chapter 8 Assignment uestion 4 of 15 (c1) < 0.5/1 * Your answer is incorrect. Assuming instead that the company used the double-diminishing-balance method to depreciate the cost of the equipment: What amount of depreciation would be recorded in 2020 and 2021? (Hint: prorate the annual depreciation amounts.) 2020 Depreciation expense $ eTextbook and Media List of Accounts Save for Later 204,480 2021 204,480 Attempts: unlimited Submit