6 c

Crane Company purchases equipment on January 1 , Year 1 , at a cost of $474,000. The asset is expected to have a service life of 12 years and a salvage value of $42,660. (a) Compute the amount of depreciation for each of Years 1 through 3 using the straight-line depreciation method. (Round answers to 0 decimal places, e.g. 5,125.) Depreciation for Year 1$ Depreciation for Year 2$ Depreciation for Year 3 \$ eTextbook and Media Attempts: 1 of 15 used (b) Compute the amount of depreciation for each of Years 1 through 3 using the sum-of-the-years'-digits method. Depreciation for Year 1$ Depreciation for Year 2$ Depreciation for Year 3$ eTextbook and Media Attempts: 1 of 15 used Compute the amount of depreciation for each of Years 1 through 3 using the double-declining-balance method. (Round depreciation rate to 2 decimal places, e.g. 15.84\% and final answers to 0 decimal places, e.g. 45,892.) Depreciation for Year 1$ Depreciation for Year 2$ Depreciation for Year 3$