Answer:
1) Straight Line Depreciation
($52,000 - $7,000) / 5 ==> $45,000 / 5 = $9,000 (Year 1 to Year 5)
2) Double-declining-balance depreciation.
Rate = 1/5 = 20% x 2 = 40%
Year 1 = $52,000 x 40% => $20,800
Year 2 = (52,000 - 20,800) x 40% => $12,480
Year 3 = (52,000 - 20,800 - 12,480) x 40% => $7,488
Year 4 = (52,000 - 20,800 - 12,480 - 7,488) x 40% => $4,492.8
Year 5 = (52,000 - 20,800 - 12,480 - 7,488 - 4,492.8) x 40% => $2695.68
