On July 1, 2020, Novak Company purchased for $5,040,000 snow-making equipment having an estimated useful life of 5 years with an estimated salvage value of $210,000. Depreciation is taken for the portion of the year the asset is used

		2020		2021
Sum-of-the-Years'-Digits Method
Equipment		$5,040,000		$5,040,000
Less: Accumulated Depreciation		$ 805000		$ 2254000
Year-End Book Value		4235000		2786000
Depreciation Expense for the Year		805000		1449000
Double-Declining Balance Method
Equipment		$5,040,000		$5,040,000
Less: Accumulated Depreciation		$ 1008000		$ 2620800
Year-End Book Value		4032000		2419200
Depreciation Expense for the Year		1008000		1612800

Assume the company had used straight-line depreciation during 2020 and 2021. During 2022, the company determined that the equipment would be useful to the company for only one more year beyond 2022. Salvage value is estimated at $280,000. 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. During 2022, the company determined that the equipment would be useful to the company for only one more year beyond 2022. Salvage value is estimated at $280,000. What is the depreciation base of this asset?

Depreciation base

$