Lecture Example 9 On 2 January, Natasha Ltd bought a new motor vehicle paying $240,000 cash. The motor vehicle has an estimated residual value of $13,000, and it is depreciated at a rate of 15% using the declining balance method. Required (a) Compute the depreciation for three years using the declining balance method. (b) Show how the depreciation expense and motor vehicle values are reected in the financial statements