Bridgeport Company acquires a delivery truck at a cost of $56,000. The truck is expected to have a salvage value of $2,000 at the end of its 4-year useful life. Assuming the declining-balance...

Bridgeport Company acquires a delivery truck at a cost of $56,000. The truck is expected to have a salvage value of $2,000 at the end of its 4-year useful life. Assuming the declining-balance depreciation rate is double the straight-line rate, compute annual depreciation for the first and second years under the declining-balance method.