Crane Company purchases equipment on January 1 , Year 1 , at a cost of $251,000. The asset is expected to have a service life of 5 years and a salvage value of $20,000 (a) Compute the amount of depreciation for each of Years 1 and 2 using the straight-line depreciation method. Depreciation for Year 1 \$ Depreciation for Year 2$ eTextbook and Media (b) Attempts: unlimited 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$ eTextbook and Media Attempts: unlimited (c) Compute the amount of depreciation for each of Years 1 and 2 using the double-declining-balance method. (Round depreciation rate to 2 decimal places, e.g. 30.22% and final answers to 2 decimal places, e.g. 45,892.50.) Depreciation for Year 1 \$ Depreciation for Year 2$