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Required information [The following information applies to the questions displayed below) Tory Enterprises pays $250,400 for equipment that will last five years and have a $44.800 salvage value. By using the equipment in its operations for five years, the company expects to earn $89,700 annually, after deducting all expenses except depreciation Calculate annual depreciation expenses using double-declining balance method. Prepare a table showing income before depreciation, depreciation expense, and net (pretax) income for each year and for the total five-year period, assuming double-declining balance depreciation is used. Answer is not complete. Complete this question by entering your answers in the tabs below. Depreciation Schedule Income Computation Calculate annual depreciation expenses using double-declining-balance method. Depreciation for the Period End of Period Beginning of Year Depreciation Accumulated Period Book Annual Book Value Rate Depreciation Depreciation Value Year 1 $ 250,400 40% S 100,160s 100,160S 150,240 Year 2 150 240 40% 60,096 90,144 Year 3 90,144 40% 36,058 54,086 Year 4 54,086 40% 21 634 X 32,452 Year 5 32,452 40% 12,981 19,471