On January 4, 2019, Columbus Company purchased new equipment for $645,000 that had a useful life of four years and a salvage value of $45,000. Required: Prepare a schedule showing the annual depreciation and end-of-year accumulated depreciation for the first three years of the assets life under the straight-line method, the sum-of-the-years-digits method, and the double-declining-balance method. Analyze: If the double-declining balance method is used to compute depreciation, what would be the book value of the asset at the end of 2020? Complete this question by entering your answers in the tabs below. Straight Line Sum of Year Digits Double Declining Analyze Prepare a schedule showing the annual depreciation and end-of-year accumulated depreciation for the first three years of the assets life under the double-declining-balance method. (Round your Depreciation rate to 2 decimal places i.e., 50% should be entered as 0.50.) DOUBLE-DECLINING-BALANCE METHOD Year Beginning Book Value Rate Annual Depreciation Accumulated Depreciation 2019 $610,000 50.00 $305,000 $305,000 2020 305,000 50.00 152,500 457,500 2021 152,500 50.00 76,250 533,750