Problem 18.2A Using different depreciation methods and comparing the results. LO 18-2 On January 4, 2019, Columbus Company purchased new equipment for $600,000 that had a useful life of four years and a salvage value of $60,000. Required: Prepare a schedule showing the annual depreciation and end-of-year accumulated depreciation for the first three years of the asset's life under the straight-line method, the sum-of-the-years'-digits method, and the double-declining-balance method. Analyze: If the double-declining balance method is used to compute depreciation, what would be the book value of the asset at the end of 2020? Complete this question by entering your answers in the tabs below. Double Declining Sum of Year Straight Line Analyze Digits Prepare a schedule showing the annual depreciation and end-of-year accumulated depreciation for the first three years of the asset's life under the straight-line method. STRAIGHT-LINE METHOD Annual Depreciation Depreciation Accumulated Acquisition Cost Salvage Value Year Useful Life 2019 years 2020 years 2021 years Straight Line Sum of Year Digits > Sum of Year Double Straight Line Analyze Digits Declining Prepare a schedule showing the annual depreciation and end-of-year accumulated depreciation for the first three years of the asset's life under the sum-of-the-years'-digits method. SUM-OF-THE-YEARS'-DIGITS METHOD Cost Less Salvage Accumulated Annual Year Fraction Depreciation Depreciation 2019 2020 2021 Double Declining Sum of Year Straight Line Analyze Digits Prepare a schedule showing the annual depreciation and end-of-year accumulated depreciation for the first three years of the asset's life under the double-declining-balance method. (Round your Depreciation rate to 2 decimal places i.e., 50% should be entered as 0.50.) DOUBLE-DECLINING-BALANCE METHOD Annual Depreciation Beginning Book Value Accumulated Year Rate Depreciation 2019 2020 2021 If the double-declining balance method is used to compute depreciation, what would be the book value of the asset at the end of 2020? Book value