Pr. 11-2 Depreciation methods. On July 1, 2006, Nyland Company purchased for $2,160,000 snow-making equipment havi years with an estimated salvage value of $90,000. Depreciation is taken for the portion of the ng an estimated useful life of 5 Instructions (a) Complete the form below by determining the depreciation expense and year-end book values for 2006 and 2007 using the 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 $2,160,000 $2,160,000 $2,160,000 $2,160,000 Equipment Less: Accumulated Depreciation Year-End Book Value Depreciation Expense for the Year (b) Assume the company had used straight-line depreciation during 2006 and 2007. During 2008, the company determined that the equipment would be useful to the company for only one more year beyond 2008. Salvage value is estimated at $120,000. Compute the amount of depreciation expense for the 2008 income statement. Solution 11-2 Part (b)