Chapter 18, Problem 3CE

A machine costing $350,000 has a salvage value of $15,000 and an estimated life of three years. Prepare depreciation schedules reporting the depreciation expense, accumulated depreciation, and book value of the machine for each year under the double-declining-balance and sum-of-the-years’-digits methods. For the double-declining-balance method, round the depreciation rate to two decimal places.