Kingbird Company purchased a new plant asset on April 1, 2020, at a cost of $774,000. It was estimated to have a service life of 20 years and a salvage value of $68,400. Kingbird accounting period is the calendar year, Your answer is correct Compute the depreciation for this asset for 2020 and 2021 using the sum-of-the-years.digits method. (Round answers to decimal places, e.g. 15,892.) Depreciation for 2020 50400 Depreciation for 2021 40 10 Your is incorrect. Try Compute the depreciation for this for 2020 2021 sing the double dining balance method. (Round answers to decimal places, s. 45.892) Depreciation for 2020 Deration for 2021