Question:Calculating Accelerated Depreciation Equipment costing $640,000 with an expected useful life of 12 years and an expected salvage value of…

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Question:Calculating Accelerated Depreciation

Equipment costing $640,000 with an expected useful life of 12 years and an expected salvage value of $20,000, was purchased at the beginning of the year.

Calculate the depreciation expense for the first five years using:

(a) Sum-of-the-years’ digits method. Do not round until final calculation. Round answers to the nearest whole number.

Year 1-???

Year 2 -???

Year 3 -???

Year 4-???

Year 5 -???

(b) Double-declining balance method (without straight-line switchover). Do not round until final calculation. Round answers to the nearest whole number.

Year 1- ???

Year 2 -???

Year 3-????

Year 4-????

Year 5- ????

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