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Depreclation by two methods A storage tank acquired at the beginning of the...

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Accounting

Depreclation by two methods
A storage tank acquired at the beginning of the fiscal year at a cost of $79,200 has an estimated residual value of $4,000 and an estimated useful life of 20 years.
a. Determine the amount of annual depreciation by the straight-line method.
b. Determine the amount of depreciation for the first and second years computed by the double-declining-balance method. Do not round the double-declining balance rate. If required, round your answers to the nearest dollar.
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