A Company equipment was acquired at the beginning of the year at a cost of $78,500 that has an estimated residual value of $9,000 and an estimated useful life of 5 years a. Determine the 1st and 2nd year's depreciation expense using straight-line method (calculation procedure counts, filling the blank counts 4 points.) Answers: Depreciation Expense at Year 1: Depreciation Expense at Year 2: Calculation: b. Determine the 1st and 2nd year's depreciation expense using double-declining-balance method. (calculation procedure counts6 points, filling the blank counts) Answers: Depreciation Expense at Year 1: Depreciation Expense at Year 2: Calculation: