Hilman Company Purchased a Truck on January 1, 20X1, at a Cost

Hilman Company purchased a truck on January 1, 20X1, at a cost of $34,000. The company estimated that the truck would have a useful life of four years and a residual value of $4,000. Required: 1. Complete the following table: $$\begin{array} { | l | l | l | } \hline & \begin{array} { l } \text { Year Depreciation } \\\text { Straight-line method }\end{array} & \begin{array} { l } \text {Depreciation } \\\text { Declining balance method } \\200 \% \text { acceleration rate }\end{array} \\\hline 20 X 1 & & \\\hline 20 X 2 & & \\\hline 20 X 3 & & \\\hline 20X4 & & \\\hline\end{array}$$
2. Which of the two methods in part 1 would result in: a. Lower profit in 20X1? ___________ b. Lower profit in 20X4? ___________