Blossom Company purchases equipment on January 1, Year 1, at a cost of $250,000. The asset is expected to have a service life of 6 years and a salvage value of $20,000.

Your answer is correct.

Compute the amount of depreciation for each of Years 1 and 2 using the straight-line depreciation method.

Depreciation for Year 1

Depreciation for Year 2

Compute the amount of depreciation for each of Years 1 and 2 using the sum-of-the-years'-digits method.

Depreciation for Year 1

Depreciation for Year 2

Compute the amount of depreciation for each of Years 1 and 2 using the double-declining-balance method.(Round answers to 2 decimal places, e.g. 45,892.50.)

Depreciation for Year 1

Depreciation for Year 2