Straight-Line DepreciationEquipment acquired at the beginning of the year at a c

Straight-Line DepreciationEquipment acquired at the beginning of the year at a cost of $32900 has an estimatedresidual valueof $2400 and an estimated useful life of five years. Determine the following:A tractor acquired at a cost of $275000 has an estimatedresidual valueof $39000 has an estimated useful life of 40000 hours and was operated 2660 hours during the year. Determine the following. If required round your answer for the depreciation rate to two decimal places.Double-Declining-Balance DepreciationEquipment acquired at the beginning of the year at a cost of $77200 has an estimatedresidual valueof $3100 and an estimated useful life of five years. Determine the following.Revision ofDepreciationA warehouse with a cost of $514700 has an estimatedresidual valueof $63200 has an estimated useful life of 35 years and is depreciated by thestraight-line method.