Exercise 11-1 Sunland Company purchases equipment on January 1, Year 1, at a cost of $506,520. The asset is expected to have a service life of 12 years and a salvage value of $43,200. Your answer is incorrect. Try again. Compute the amount of depreciation for Years 1 through 3 using the straight-line depreciation method. (Round answers to 0 decimal places, e.g. s, Depreciation for Year 1 125.) 38588 Depreciation for Year2 38588 Depreciation for Year 3 38588 Compute the amount of depreciation for each of Years 1 through 3 using the sum-of-the-years-digits method. Depreciation for Year 1 231525 Depreciation for Year 2 154350 Depreciation for Year 3