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Calculate Diminishing Value Depreciation . Depreciation rate finder and calculator. Diminishing balance method = (cost of an asset * rate of depreciation/100) Double Declining Depreciation Formula Example from theworldourway.com A depreciation factor of 200% of straight line depreciation, or 2, is most commonly called the double declining balance method. Hence, using the diminishing method calculate the depreciation expenses. In contrast, the diminishing value method has a more significant upfront deduction in the first four years of the asset.