Oriole Compary purchases equipment on January 1, Ycar 1, at a cost of $588,000, The asset is expected to have a service life of 12 vears and a salvage value of $2,920 (a) Compute the amount of depreclation for esch of Vears 1 through 3 uiling the straight-line depreciation method. Bound onswes to Odecimal places, es, 5,125.) Depreciation for Year 1 \$ Depreciation for Year 2 \$ Depreciation for Year 3$