12. On January 2, 2021, the Jackson Company purchased equipment to be used in its manufacturing process. The equipment has an estimated life of eight years and an estimated residual value of $33,875. The expenditures made to acquire the asset were as follows: Purchase price $ 165,000 Freight charges 2,800 Installation charges 5,000 Jacksons policy is to use the double-declining-balance (DDB) method of depreciation in the early years of the equipments life and then switch to straight line halfway through the equipments life.

Required:

Calculate depreciation for each year of the assets eight-year life.

	Depreciation for the Period				End of Period
Year	Beginning of Period Book Value	Depreciation Rate		Annual Depreciation	Accumulated Depreciation	Book Value
2021			%
2022			%
2023			%		0	0
2024			%
2025						0
2026
2027
2028
Total				$0