Reference no: EM132495262

Wildhorse Company acquires equipment at a cost of $38,500 on January 3, 2021. Management estimates the equipment will have a residual value of $5,500 at the end of its 4-year useful life. Assume that the company uses the diminishing-balance method and that the diminishing-balance depreciation rate is double the straight-line rate.

Question 1: Calculate the depreciation expense for each year of the equipment's life. (Do not leave any answer field blank. Enter 0 for amounts.)

Depreciation - 2021$

enter a dollar amount

Depreciation - 2022$

enter a dollar amount

Depreciation - 2023$

enter a dollar amount

Depreciation - 2024$

enter a dollar amount