On July 1, 2025, Concord Company purchased for $7,380,000 snow-making equipment having an estimated useful life of 5 years with an estimated salvage value of $307,500. Depreciation is taken for the portion of the year the asset is used. (a) Complete the form below by determining the depreciation expense and year-end book values for 2025 and 2026 using: 1. Sum-of-the-years-digits method. 2. Double-declining balance method. Sum-of-the-Years-Digits Method Equipment Less: Accumulated Depreciation Year-End Book Value Depreciation Expense for the Year 2025 $7,380,000 S $ $ 2026 $7,380,000