The Rialto Theatre purchased a new projector costing $74,000 on January 1, 2021. Because of changing technologies, the projector is estimated to last five years after which it will be obsolete and have a salvage value of $2,000 as a collectors’ item. 

Compute the depreciation expense for ALL YEARS using:

a. The straight-line method

b. Double-declining-balance method

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