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BACK NEXT Crane Company Ltd. buys equipment on January 1, 2020, for $415,000 cash. The asset is expected to have a useful life of 12 years and a residual value of $49,000. Crane prepares financial statements under IFRS. Calculate the amount of depreciation for each of 2020, 2021, and 2022 using the straight-line method. tudy Depreciation 2020 $ 2021 $ 2022 $ 4 LINK TO TEXT Calculate the amount of depreciation for each of 2020, 2021, and 2022 using the double-declining-balance method. (Round percentages to to 2 decimal places e.g. 52.75 and round dollar amounts to the nearest dollar, e.g. 5,275.) Depreciation 2020 $ 2021 2022