den Gate Co. uses straigr lhe depreciation Tinancial statements, with depreciation for a partial year rounded to the nearest full month. On October 10, 2020 Fire purchased equipment at a cost of $240,000. For financial reporting purposes, the useful life of this equipment was estimated at 5 years, with a $40,000 salvage value. Compute the depreciation expense relating to this equipment that Golden Gate will recognize in its financial statements in the following years. If no depreciation will be recognized in a particular year, write zero. Provide your response in the space below or upload an Excel file with your response. Show all work. Year Amount 2020 $ 2021 $. 2022 $. 2023 $. 2024 $. 2025 $