Problem regarding the double-declining-balance method

Reference no: EM13987984

A storage tank acquired at the beginning of the fiscal year at a cost of $210,000 has an esti- mated residual value of $30,000 and an estimated useful life of 20 years. Determine the follow- ing: (a) the amount of annual depreciation by the straight-line method and (b) the amount of depreciation for the first and second years computed by the double-declining-balance method.

Reference no: EM13987984

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