Computing Depreciation Expense Equipment costing $290,000, with an expected scrap value of $30,000 and an estimated useful life of five years, was purchased on January 1, 2016. Calculate the depreciation expense for years 2016 to 2020 using Round to the nearest whole number. 2016 2017 2018 2019 2020 $ 52,000 $ 52,000 $ 52,000 $ 52,000 $ 52,000 Straight-line depreciation Double-declining balance (a) without straight-line switch-over $ (b) with straight-line switch-over $ $ $ 25,056 $ 116,000 116,000 69,600 69,600 41,760 41,760 7,584 7,584 x $ $ $ $ 25,056 x $