Determine the depreciation for each of the first two years, Accounting Basics

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Determine the depreciation for each of the first two years

Question: A tractor acquired on January 9 at a cost of $171,000 has an estimated useful life of four years. Assume that it will have no residual value.

a. Determine the depreciation for each of the first two years by the straight-line method.

Y1: 42,750

Y2:42,750

b. Determine the depreciation for each of the first two years by the double-declining-balance method. Do not round the double-declining balance rate. If required, round your final answer to the nearest dollar.

Y1:

Y2:

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Accounting Basics: Determine the depreciation for each of the first two years

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Accounting Basics: Determine the depreciation for each of the first two years

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