On January 2, 2018, 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 $63,125. The expenditures made to acquire the asset were as follows: Purchase price $ 264,000 Freight charges 10,000 Installation charges 14,000 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.