Talia's Tutus bought a new sewing machine for $85,000 that will be depreciated over 5 years using double-declining-balance depreciation with a switch to straight-line.

Required:

a.Find the depreciation charge each year.

year 1 =

year 2 =

year 3 =

year 4 =

year 5 =

b.If the sewing machine is sold after 2 years for $50,000, what will be the after-tax proceeds on the sale if the firm's tax bracket is 35%?