Depreciation by Two Methods A computer system acquired on January 1 at a cost of $144,000 has an estimated useful life of ten years. Assuming that it will have no residual value. a. Determine the depreciation for each of the first two years by the straight-line method. First Year Second Year b. Determine the depreciation for each of the first two years by the double-declining-balance method. Do not round the double-declining balance rate. If required, round your final answers to the nearest dollar. First Year Second Year x x Feedback Check My Work Asset cost minus residual value equals depreciable cost. Straight-line depreciation allocates the depreciable cost of the asset equally over the expected useful life. The double-declining rate is two times the straight-line rate and it is applied on the original cost minus accumulated depreciation on an asset