Problem
New lithographic equipment, acquired at a cost of $940,000 on March 1 at the beginning of a fiscal year, has an estimated useful life of 5 years and an estimated residual value of $105,750. The manager requested information regarding the effect of alternative methods on the amount of depreciation expense each year. In the first week of the fifth year, on March 4, the equipment was sold for $151,924.
Task
Determine the annual depreciation expense for each of the estimated.