b. The DB Method (Declining Balance Method) - Provide the complete manual

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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An asset for drilling was purchased and placed in service by a petroleum production company. Its cost basis is  $60,000 and it has an estimated MV of $12,000 at the end of an estimated useful life of 14 years. Compute the  accumulated depreciation in the third year and the BV at the end of 5th year of life by each of these methods at the rate of 9%:  

b. The DB Method  (Declining Balance Method)
- Provide the complete manual solution (not excel or tables) and cash flow diagram

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