beginning of the fiscal year at a cost of 75,600 has an estimated residual value of 4000 and a estimated useful life of 20 years. a. determine the amount of annual depreciation by

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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a storage tank acquired at the beginning of the fiscal year at a cost of 75,600 has an estimated residual value of 4000 and a estimated useful life of 20 years.

a. determine the amount of annual depreciation by the straight line method
b. determine the amount of depreciation for the first and second years computed by the double declining balance method . do not round the double declining balance rate. if required round answer to the nearest dollar
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