Depreciation by two methods A storage tank acquired at the beginning of the fiscal year at a cost of $115,200 has an estimated residual value of $15,000 and an estimated useful life of 25 years. information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below Open spreadsheet a. Determine the amount of annual depreciation by the straight-line method. Round your answer to the nearest dollar $ 4,008 b. Determine the amount of depreciation for the first and second years computed by the double-declining balance method. Do not round the double-declining balance rate. Round your answers to the nearest dollar. Depreciation Year 1 11.520 X Year 2 10,368 x Check My Work Save and Exit Sunt Assignment for Grading File Home Insert Data Review View Help Tell me what you want to do = = A A A Is Copy Format Painter Clipboard = E Paste BI U Dab Font 2 Wrap Text Merge & Center $. % Undo Alignment Number c11 Depreciation by two methods 1 4 5 6 DATA Cost Estimated residual value Estimated useful life (in years) $115,200 $15,000 25 Using formulas and cell references, perform the required analysis, and input your answers into the Amounts column. Transfer the numeric results for the green entry cells (C11C13) into the appropriate fields in CNOWV2 for grading. Amounts Formulas 11 a. Annual depreciation (Straight-line method) 12 b. Depreciation (DDB method). Year 1 Depreciation (DDB method), Year 2 13 Data e 90000 91HDOLTON