On July 1, 2020, Grouper Company purchased for $4,320,000 snow-making equipment having an estimated useful life of 5 years with an estimated salvage value of $180,000. Depreciation is taken for the portion of the year the asset is used.

Complete the form below by determining the depreciation expense and year-end book values for 2020 and 2021 using the

1.		sum-of-the-years'-digits method.
2.		double-declining balance method.

Assume the company had used straight-line depreciation during 2020 and 2021. In 2022, the company determined that the equipment would be useful to the company for only one more year beyond 2022. The salvage value is estimated at $240,000. Compute the amount of depreciation expense for the 2022 income statement.

Depreciation expense : ?

Assume the company had used straight-line depreciation during 2020 and 2021. In 2022, the company determined that the equipment would be useful to the company for only one more year beyond 2022. The salvage value is estimated at $240,000. What is the depreciation base of this asset?

Depreciation base: ?

1. sum-of-the-years'-digits method. 2. double-declining balance method. 2020 2021 Sum-of-the-Years'-Digits Method Equipment $4,320,000 $4,320,000 Less: Accumulated Depreciation $ 690,000 $ 1932,000 Year-End Book Value 3630,000 2388,000 Depreciation Expense for the Year 690,000 Double-Declining Balance Method Equipment $4,320,000 $4,320,000 Less: Accumulated Depreciation $ $ LE Year-End Book Value 4,320,000 Depreciation Expense for the Year 828,000