Blue Company purchases equipment on January 1, Year 1, at a cost of $600,000. The asset is expected to have a service life of 12 years and a salvage value of $54,000. (a) Your answer is correct. Compute the amount of depreciation for each of Years 1 through 3 using the straight-line depreciation method. (Round answers to O decimal places, eg. 5.125.) $ 45500 Depreciation for Year 1 $ 45500 Depreciation for Year 2 Your answer is correct. Compute the amount of depreciation for each of Years 1 through 3 using the sum-ofthe-years' digits method. Depreciation for Year 1 $ 84000 Depreciation for Year 2 $ 77000 $ Depreciation for Year 3 70000 e Textbook and Media Attempts: 1 of 3 used (c) 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, eg. 15.84%. Round answers to decimal places, eg. 45,892) Depreciation for Year 1 $ $ Depreciation for Year 2 $ Depreciation for Year 3 $