Various Depreciation Methods--Two Years
on 6 September 2010, East River

Essay

Various depreciation methods--two years
On 6 September 2010, East River Tug Co. purchased a new tugboat for $400,000. The estimated life of the boat was 20 years, with an estimated residual value of $40,000.
Compute the depreciation on this tugboat in 2010 and 2011 using the following methods. Apply the half-year convention. (If necessary, round to the nearest dollar.) $$\begin{array} { | l | l | l | } \hline & { 2010 } & { 2011 } \\\hline \text { (a) Straight-line } & \$\underline{\quad\quad} & \$ \underline{\quad\quad}\\\hline \text { (b) } 200 \% \text {-declining-balance } & \$ \underline{\quad\quad}& \$ \underline{\quad\quad}\\\hline \text { (c) } 150 \% \text {-declining-balance } & \$\underline{\quad\quad} & \$ \underline{\quad\quad}\\\hline & & \\\hline \end{array}$$