Question: ***I only need help with answers for double declining balance method*** Perdue Company purchased equipment on April 1 for $62,370. The equipment was expected to

***I only need help with answers for double declining balance method***

Perdue Company purchased equipment on April 1 for $62,370. The equipment was expected to have a useful life of three years, or 4,320 operating hours, and a residual value of $1,890. The equipment was used for 800 hours during Year 1, 1,500 hours in Year 2, 1,300 hours in Year 3, and 720 hours in Year 4.

Required:

Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, Year 3, and Year 4, by (a) the straight-line method, (b) units-of-output method, and (c) the double-declining-balance method.

Note: FOR DECLINING BALANCE ONLY, round the multiplier to four decimal places. Then round the answer for each year to the nearest whole dollar.

c. Double-declining-balance method

Year 2 is correct, rest are marked incorrect.

Year Amount
Year 1 $31185
Year 2 $20790
Year 3 $6930
Year 4 $1575

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