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 $50,125. The expenditures made to acquire the asset were as follows Purchase price Freight charges Installation charges $228,808 6,880 1e,880 Jackson's policy is to use the double-declining-balance (DDB) method of depreciation in the early years of the equipment's life and then switch to straight line halfway through the equipment's life Required: 1. Calculate depreciation for each year of the asset's eight-year life. r the Beginning of Period Book Value Annual Book Value Rate 2018 2019 2020 2021 2022 2023 2024 2025 Total S 220,000