Nash Company purchases equipment on January 1, Year 1, at a cost of $480,000. The asset is expected to have a service life of 12 years and a salvage value of $43,200. (a) Your answer is correct. Compute the amount of depreciation for each of Years 1 through 3 using the straight-line depreciation method. (Round answers to O decimal places, eg. 5,125) Depreciation for Year 1 $ 36.400 Depreciation for Year 2 $ 36,400 Depreciation for Year 3 $ 36,400 eTextbook and Media