Depreciation by Two Methods A storage tank acquired at the beginning of the fiscal year at a cost of $75,000 has an estimated residual value of $4,500 and an estimated a. Determine the amount of annual depreciation by the straight-line method. ✓ b. Determine the amount of depreciation for the first and second years computed by the double-declining-balance methour balance rate. If required, round your answers to the nearest dollar.