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Equipment acquired at a cost of $105,000 has an estimated residual value of $12,000 and...

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Equipment acquired at a cost of $105,000 has an estimated residual value of $12,000 and an estimated useful life of 10 years. It was placed into service on May 1 of the current fiscal year, which ends on December 31. a. Determine the depreciation for the current fiscal year and for the following fiscal year by the straight-line method. 9,300) x Year 1 Year 2 b. Determine the depreciation for the current fiscal year and for the following fiscal year by the double-declining-balance method. Depreciation Year 1 21,000 X Year 2

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