Oriole Company purchases equipment on January 1 , Year 1 , at a cost of $588,000. The asset is expected to have a service life of 12 years and a salvage value of $52,920. (a). (b) (c) Compute the amount of depreciation for each of Years 1 through 3 using the double-declining-balance method. (Round depreciation rate to 2 decimal places, e.g. 15.84% and final answers to 0 decimal places, e.g. 45,892. Depreciation for Year 1 Depreciation for Year 2$ Depreciation for Year 3$