On January 2, 2016, the Jackson Company purchased equipment to be used in its manufacturing process. The equipment has an estimated life of eight years and an estimated residual value of $50,125. The expenditures made to acquire the asset were as follows: Purchase price $ 220,000 Freight charges 6,800 Installation charges 10,000 Jacksons policy is to use the double-declining-balance (DDB) method of depreciation in the early years of the equipments life and then switch to straight line halfway through the equipments life. Required: 1. Calculate depreciation for each year of the assets eight-year life.