Practice Exercise 11-1 Pharoah Company purchases equipment on January 1, Year 1, at a cost of $267,000. The asset is expected to have a service life of 6 years and a salvage value of $20,000. Compute the amount of depreciation for each of Years 1 and 2 using the straight-line depreciation method. Depreciation for Year1 Depreciation for Year 2 s Compute the amount of depreciation for each of Years 1 and 2 using the sum-of-the-years'-digits method Depreciation for Year 1 Depreciation for Year 2 Compute the amount of depreciation for each of Years 1 and 2 using the double-declining-balance method. (Round answers to O decimal places, e.g. 45,892.) Depreciation for Year 1 Depreciation for Year 2 s