Required information (The following information applies to the questions displayed below.) Tory Enterprises pays $258,400 for equipment that will last five years and have a $45,600 salvage value. By using the equipment in its operations for five years, the company expects to earn $90,500 annually, after deducting all expenses except depreciation. Calculate annual depreciation expenses using double-declining-balance method. Prepare a table showing income before depreciation, depreciation expense, and net (pretax) income for each year and for the total five-year period, assuming double-declining-balance depreciation. Depreciation Schedule Income Computation Calculate annual depreciation expenses using double-declining-balance method. End of Period Year Depreciation for the Period Beginning of Period Depreciation Annual Book Rate Depreciation Value $ 258,400 40% $ 103,360 Accumulated Depreciation Book Value Year $ 103,360 $ 155,040 93,024 Year 155,040 40% 165,376 Year 40% 55,814 Year 93,024 55,814 33,488 40% 62,016 37,210 22,326 13,395 238,307 202,586 224,912 238,307 33,488 20,093 Year 40% Total $