Question: I need complete answer with in 30 minutes Question # 02: An item of equipment acquired at a cost of Rs. 72,000 has an estimated

I need complete answer with in 30 minutes

Question # 02: An item of equipment acquired at a cost of Rs. 72,000 has an estimated residual value of Rs. 3,000 and an estimated useful life of 5 years. It was placed in service on July 1 of the current fiscal year, which ends on December 31, Determine the depreciation for the current fiscal and the following fiscal year by (a) the declining balance method, at twice the straight line rate, and (b) the sum of the year digit method

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