Question: What is the double declining balance for the 4th year? Depreciation Methods A machine costing $153,000 was purchased May 1. The machine should be obsolete

What is the double declining balance for the 4th year?

What is the double declining balance for the 4th year? Depreciation Methods

Depreciation Methods A machine costing $153,000 was purchased May 1. The machine should be obsolete after four years and, therefore, no longer useful to the company. The estimated salvage value is $15,000. Calculate the depreciation expense for each year of its expected useful life using each of the following depreciation methods: (a) straight-line, (b) double-declining balance. For double-declining balance, do not round until your final answer Round your final answers to the nearest dollar a. Straight-line: Year 1: 23,000 34,500 34,500 34,500 11,500 Year 2: Year 3: Year 4: Year 5: b. Double-declining balance: Year 1: 51,000 Year 2: 51,000 25,500 12,750 X Year 3: Year 4

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