Exercise 11-02 Marigold Company acquired a plant asset at the beginning of Year 1. The asset has an estimated service life of 5 years. An employee has prepared depreciation schedules for this asset using three different methods to compare the results of using one method with the results of using other methods. You are to assume that the following schedules have been correctly prepared for this asset using (1) the straight-line method, (2) the sum-of-the-years'-digits method, and (3) the double-declining-balance method. Year N m Straight-Line $9,720 9,720 9,720 9,720 9,720 $48,600 Sum-of-the- Years'-Digits $16,200 12,960 9,720 6,480 3,240 $48,600 Double- Declining- Balance $21,600 12,960 7,776 4,666 1,598 $48,600 Total Answer the following questions. X Your answer is incorrect. Try again. What is the cost of the asset being depreciated? Cost of asset 50000 LINK TO TEXT x Your answer is incorrect. Try again. What amount, if any, was used in the depreciation calculations for the salvage value for this asset? Salvage value 1400 rch o e M - g w ^ . 0 l 10:28 PM 2/27/20205