Declining balance depreciation
On July 6, 2007, Bennington purchased new machinery with an estimated useful life of 10 years. Cost of the equipment was $50,000, with a residual value of $5,000.
Compute the depreciation on this machinery in 2007 and 2008 using each of the following methods.

You have not mentioned the methods of depreciation. However, here goes
(a) Straight line method: (50,000-5,000)/10 =4,500 for each year
(b) Reducing balance method:
2007 - 50,000 x20% = 10,000
2008: 40,000 x 20% 8,000
(c) Sum of the years digit:
2007 - 45,000x10/55= 8,182
2008 - 45,000x9/55 = 7,364