Question - A machine cost $500,000 on April 1, 2010. Its estimated salvage value is $50,000 and its expected life is eight years.
Calculate the depreciation expense (to the nearest dollar) by each of the following methods, showing the figures used.
a) Straight-line for 2010
b) Double-declining balance for 2011
c) Sum-of-the-year's-digits for 2011