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Novak Corporation purchased a boardroom table for $16,000. The company planned to keep it for...

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Accounting

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Novak Corporation purchased a boardroom table for $16,000. The company planned to keep it for four years, after which it was expected to be soid for 51,000 . (a) Calculate the depreciation expense for each of the first three years under (1) the straight-line method, and (2) the double: diminishing-balance method, assuming the company purchased the table early in the first month of the first year. (1) Stright-line method. Year 1 Year 2 Year 3 (2) Double-diminishing-balance method. Year 1$ Year2 \$ Year 3$ Attempts: unlimited

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