Ivanhoe Comparty acquires equipment at a cost of $41,300 on January 3, 2024. Management estimates the equipment will have a residual value of $5,900 at the end of its 4-year useful life. Assume that the company uses the diminishing-balance method and that the diminishing-balance depreciation rate is double the straight-line rate. Calculate the depreciation expense for each year of the equipment's life. Depreciation - 20245 Depreciation-2025 5 Depreciation-2026 5 Depreciation-2027 \$