Homework Answers
Annual depreciation rate as per straight line method=100%/7
=14.2857143%/year
Hence depreciation rate as per double decline=2*Annual depreciation rate as per straight line method*Beginning value of each period
| Year | Beginning value | Depreciation | Ending value |
| 1 | 86730 | (2*14.2857143%*86730)=24780 | (86730-24780)=$61950 |
| 2 | 61950 | (2*14.2857143%*61950)=$17700 |
Hence depreciation for second year=$17700
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