Question: DEPRECIATION: DOUBLE DECLINING-BALANCE METHOD Suppose a tractor purchased at a price of $60,000 is to be depreciated by the double declining-balance method over a 10-yr period. It can be shown that the rate at which the book value will be decreasing is given by
R(t) = 13388.61e-0.22314t (0 ≤ t ≤ 10)
Dollars/year at year t. Find the amount by which the book value of the tractor will depreciate over the first 5 yr of its life.