Lockhard Company purchased machinery on January 1, 2012, for $76,200. The machinery is estimated to have a salvage value of $7,620 after a useful life of 8 years.
(a) Compute 2012 depreciation expense using the double-declining balance method.
(b) Compute 2012 depreciation expense using the double-declining balance method assuming the machinery was purchased on October 1, 2012.