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[11] A piece of equipment was acquired for a cost of $400,000. It had an estimated...

[11] A piece of equipment was acquired for a cost of $400,000. It had an estimated useful life of 5 years. The estimated salvage value is $40,000. The company controller uses a double declining balance method of accelerated depreciation. The piece of equipment was purchased on Oct. 1, 2014. The company is generating projections for the next few years and has asked you to show him what depreciation expense, accumulated depreciation, and book value of this piece of equipment will be over the life of the asset. SHOW YOUR WORK. You must show the depreciation expense for each year, the accumulated depreciation at the end of each year, and the book value at the end of each year.

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