discussion response to$$The different depreciation methods include straight$-$line, declining balance, double$-$declining balance, sum of years digits, and units of production. The declining balance depreciation method is used often in the business world, when the company wants to maximize tax deductions early on in the asset$$s useful life. To calculate declining balance depreciation, you multiply the current book value by the depreciation rate percentage, where $$the rate of depreciation is defined according to the estimated pattern of an asset$$s use over its useful life$($Kenton$,2024).$ Businesses would want to use this method for assets that will quickly lose value over time such as computers, phones, cameras, televisions, etc.$$ Another commonly used method is the straight$-$line depreciation, as it is simple to use. To calculate straight$-$line depreciation, $$subtract an asset$$s salvage value from its current value and divide the result by the number of years until it reaches its salvage value$($Liberto$,2024).$ This formula will result in the same amount of depreciation in each period, which differs from the declining balance whose depreciation amount reduces over each period. Businesses would want to use this method for assets that are expected to decrease in value steadily throughout their useful life such as furniture or appliances. Tax implications for the straight$-$line method would also differ from the declining balance method as it will maintain consistency in deductions over its useful life.