Kingbird AG purchased a new plant asset on April 1, 2022, at a cost of 954,000. It was estimated to have a service life of 20 years and a residual value of 78,720. Kingbird' accounting period is the calendar year. (a) (b) Your Answer Correct Answer Your answer is correct. Compute the depreciation for this asset for 2022 and 2023 using the sum-of-the-years'-digits method. (Round answers to O decimal places, e.g. 45,892.) Depreciation for 2022 62,520 Depreciation for 2023 80,234 eTextbook and Media Solution Your answer is incorrect. Attempts: 2 of 2 used Compute the depreciation for this asset for 2022 and 2023 using the double-declining-balance method. (Round answers to O decimal places, e.g. 45,892.) Depreciation for 2022 95400 Depreciation for 2023 85860 T