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. X Your answer is incorrect. Compute the amount of depreciation for each of Years 1 through 3 using the straight-line depreciation method (Round answers to decimal places, eg. 5,125.) Depreciation for Year 1 $ 82320 Depreciation for Year 2 $ 75460 Depreciation for Year 3 $ 68600 e Textbook and Media Solution X Your answer is incorrect. Compute the amount of depreciation for each of Years 1 through 3 using the sum-of-the-years-digits method. Depreciation for Year 1 $ Depreciation for Year 2 $ Depreciation for Year 3 $ e Textbook and Media Solution