29) Film Makers Inc. purchases equipment on January 1, Year 1, at a cost of $553,420. The asset is expected to have a service life of 12 years and a salvage value of $47,200. Compute the amount of depreciation for each of Years 1 through 3 using the double-declining- balance method. (6 pts) Depreciation expense year 1 Depreciation expense year 2 Depreciation expense year 3