Exercise 11-1 Pronghorn Company purchases equipment on January 1, Year 1, at a cost of $581,560. The asset is expected to have a service life of12years and a salvage value of $49,600.

Compute the amount of depreciation for Years 1 through 3 using the straight-line depreciation method.(Round answers to 0 decimal places, e.g. 5,125.)

Depreciation for Year 1	$
Depreciation for Year 2	$
Depreciation for Year 3	$

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Compute the amount of depreciation for each of Years 1 through 3 using the sum-of-the-years'-digits method.

Depreciation for Year 1	$
Depreciation for Year 2	$
Depreciation for Year 3	$

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Compute the amount of depreciation for each of Years 1 through 3 using the double-declining-balance method.(Round depreciation rate to 2 decimal places, e.g. 15.84%. Round answers to 0 decimal places, e.g. 45,892.)

Depreciation for Year 1	$
Depreciation for Year 2	$
Depreciation for Year 3	$