An equipment was purchased at a cost of $33,600 on September 1, 2010. The equipment has an estimated residual value of $3,130 and an estimated useful life of five years or 21,600 hours. Assume the equipment was used for 1,060 hours from September 1 to December 31.
Required:
Calculate the amount of depreciation to report during the year ended December 31, using following methods(Round your answers to the nearest dollar amount. Omit the "$" sign in your response):
Straight-line $
Double-declining-balance$