Depreciation On July 1, 2014. Sport Company purchased for \$980,000 snow-making equipment having an estimated useful life of 5 years with an estimated salvage value of $80,000. Depreciation is taken for the portion of the year the asset is used (a) Determining the depreciation expense of the equipment for 2014 and 2015 using the sum-of-the-years'-digits method (6 points) (b) Determining the book value of the equipment at the end of 2014 and 2015 using the double-declining balance method ( 6 points) (c) Assume the company depreciate the equipment using the straight-line depreciation method. At the beginning of 2016, the company determined that the equipment would be useful to the company for only one more year beyond 2016. Salvage value is estimated at $160,000. Compute the amount of depreciation expense for the 2016 income statement ( 6 points)