Required information [The following information applies to the questions displayed below.) Tory Enterprises pays $242,400 for equipment that will last five years and have a $44,000 salvage value. By using the equipment in its operations for five years, the company expects to earn $88,900 annually. after deducting all expenses except depreciation. Calculate annual depreciation expense 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 is used. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Depreciation Income Computation Schedule Calculate annual depreciation expenses using double-declining-balance method. (Round Annual Depreciation to the nearest whole dollar.) Depreciation for the Period End of Period Beginning of < Prev 7 of 13 Next >