Exercise 11-2 Oriole 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 Straight-Line Sum-of-the- Years'-Digits Double-Declining- Balance 1 $12,960 $21,600 $28,800 2 12,960 17,280 17,280 3 12,960 12,960 10,368 4 12,960 8,640 6,221 5 12,960 4,320 2,131 Total $64,800 $64,800 $64,800 Answer the following questions. What is the cost of the asset being depreciated? Cost of asset $