An asset has a first cost of $25,000 and an expected life of 5 years. Calculate its depreciation and book value using Double Declining Balance with SL Switch (if necessary). Complete the following table with the correct numbers or text.
Instructions to complete the table:
1. Enter all numbers with 2 decimal places such as 12.32. Even if they are whole numbers like 1234, enter as 1234.00. Do NOT enter the dollar symbol or comma separators.
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2. After you have switched to SL, enter 0.00 as the value for DDB Depreciation for the remainder of the problem.