Question: Question text Computing Depreciation Expense . Equipment costing $580,000, with an expected scrap value of $60,000 and an estimated useful life of 5 years, was

Question text

Computing Depreciation Expense. Equipment costing $580,000, with an expected scrap value of $60,000 and an estimated useful life of 5 years, was purchased on January 1, 2012.

Calculate the depreciation expense for years 2012 to 2016 using: (a) the straight-line method and (b) the double-declining-balance method.

Round to the nearest whole number.

	2012	2013	2014	2015	2016
Straight-line depreciation	$Answer	$Answer	$Answer	$Answer	$Answer
Double-declining balance
(a) without straight-line switch-over	$Answer	$Answer	$Answer	$Answer	$Answer
(b) with straight-line switch-over	$Answer	$Answer	$Answer	$Answer	$Answer

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