Exercise 11-1 (L01) Depreciation Computations-SL, SYD, DDB Deluxe Ezra Company purchases equipment on January 1, Year 1. The following information is provided concerning the acquisition. Cost of equipment $ 469,000 Estimated service life in years Salvage value 12 $ 40,000 (b) Compute the amount of depreciation for each of Years 1 through 3 using the sum-of-the- years digits method. Sum-of-the-years' digits Year Fraction Cost- Period 1 2 3 Using Excel's SYD function: Year 1 Year 2 Year 3 (c) Compute the amount of depreciation for each Years 1 through 3 using the double- declining balance method. (In performing your calculations, round constant percentage to the nearest one-hundredth of a point and round answers to the nearest dollar.) Double-declining balance method rate= Year Book Value Rate Period 1 2 3 Using Excel's DDB function: Year 1 Year 2 Year 3