Make a table using the straight-line method and declining-balance method to calculate the annual depreciation expense for each of the first three years for the following list of non-current assets:

Asset	Original Cost	Salvage Value	Useful Life
Truck	35,000.00	4,000.00	5
Tractor	150,000.00	15,000.00	10
Corn Planter	38,000.00	6,000.00	7
Barns	210,000.00	20,000.00	20

NOTE 1: Assume all assets were purchased on January 1.

NOTE 2: For the declining balance method, use a multiple of 2.

NOTE 3: Show the actual calculations for at least the Truck, so I can evaluate the proper use of the depreciation formulas.

For the Depreciation Expense Calculations (parts 2 & 3 below), report the answers in the

following format:

ASSET: Truck SL DB

Year 1 XXX.XX XXX.XX

Year 2 XXX.XX XXX.XX

Year 3 XXX.XX XXX.XX

Part 3. (6 points) Assume the truck in Part 2, was purchased on May 1. Therefore partial period adjustments are needed for its depreciation. Recalculate the SL and DB calculations values for the first 3 years using this new information.