QS 8-6 (Algo) Double-declining-balance method LO P1 A building is acquired on January 1 at a cost of $950,000 with an estimated useful life of eight years and salvage value of $85,500. Compute depreciation expense for the first three years using the double-declining-balance method. (Round your answers to the nearest dollar.) Depreciation for the Period Annual Period Beginning of Period Book Value Depreciation Rate (%) First Year $ 950,000 Second Year Third Year End of Period Depreciation Expense Accumulated Depreciation Book Value