3) On January 5, 2020, Paige Construction purchased a used crane at a total cost of $200,000. Before placing the crane in service, Paige spent $12,500 transporting it, $4,800 replacing parts, and $11,400 overhauling the engine. Karen Paige, the owner estimates that the crane will remain in service for four years and have a residual value of $42,000. The crane's annual usage is expected to be 2,400 hours in each of the first three years and 2,200 hours in the fourth year. a. Prepare an amortization schedule using the Double-Declining Method. Assume a December 31 year-end. (10 MARKS) PAIGE CONSTRUCTION Amortization Schedule Date Asset Cost DDB Rate Amortizable Cost Calculations: Amortization Expense Accumulated Amortization Asset Book Value