A crane has an initial cost of $150,000 and an estimated useful life of 10 years. The salvage value after 10 years of use is estimated to be $40,000.
a. What is the book value at the end of the fifth year if you use the straight line method of depreciation accounting?
b. What is the book value at the end of the fifth year if you use the sum of the years method of depreciation accounting?
c. What is the book value at the end of the fifth year if you use the double declining balance method of depreciation accounting?