EX$\mathrm{.}10\mathrm{.}10.$ALGO $($Algorithmic$)$

Depreciation by Two Methods

A storage tank acquired at the beginning of the fiscal year at a cost of $$95,000$ has an estimated residual value of $$5,000$ and an estimated useful life of $25$ years.

a$.$ Determine the amount of annual depreciation by the straight$-$line method.

$

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. If required,

round your answers to the nearest dollar.

Depreciation

Year $1$ $

Year $2$ $