Question 1 Vaughn Company purchases equipment on January 1, Year 1, at a cost of $ 572,180. The asset is expected to have a service life of 12 years and a salvage value of $48,800 x Your answer is incorrect. Compute the amount of depreciation for Years 1 through 3 using the straight-line depreciation method. (Round answers to O decimal places, eg. 5,125.) $ Depreciation for Year 1 Depreciation for Year 2 Depreciation for Year 3 51,748 103,496 155,244 $ X Your answer is incorrect. Compute the amount of depreciation for each of Years 1 through 3 using the sum-of-the-years'-digits method. Depreciation for Year 1 Depreciation for Year 2 Depreciation for Year 3 88027 80692 73356 $ $