3. Oxford Manufacturing, Inc., purchased new equipment totaling $648,000. Shipping charges were $2,200, and installation amounted to $1,800. The equipment is expected to last 4 years and have a residual value of $33,000. If the company elects to use the straight-line method of depreciation, prepare a depreciation schedule for these assets. Oxford Manufacturing, Inc. Straight-Line Depreciation Schedule Manufacturing Equipment Accumulated Depreciation End of Annual Book Value Year Depreciation (new) 4 Complete the following as they relate to the sum-of-the-years' digits method of depreciation. Depreciation Rate Fraction Sum-of-the- Years' Digits Useful Life (years) Year 2 Year 4 Year 6 4. 5