Question

A storage tank acquired at the beginning of the fiscal year at a cost of $129,600...

A storage tank acquired at the beginning of the fiscal year at a cost of $129,600 has an estimated residual value of $11,000 and an estimated useful life of 10 years. 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. Round your answers to the nearest dollar.

Depreciation
Year 1 $  
Year 2 $  

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