Depreciation Methods

Akron Incorporated purchased an asset at the beginning of Year $1$ for $$375,000.$ The estimated residual value is $$15,000.$ Akron estimates that the asset has a service life of $5$ years. Calculate the depreciation expense using the sum$-$of$-$the$-$years'$-$digits method for Years $1$ and $2$ of the asset's Iffe.

Year Depreciation

$1$$

$2$$