Required information [The following information applies to the questions displayed below.] Tory Enterprises pays $255,400 for equipment that will last five years and have a $45,300 salvage value. By using the equipment in its operations for five years, the company expects to earn $90,200 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. X Answer is not complete. Complete this question by entering your answers in the tabs below. Depreciation Income Schedule Computation Calculate annual depreciation expenses using double-declining-balance method. (Round Annual Depreciation to the nearest whole dollar.) Depreciation for the Period End of Period Year Beginning of Depreciation Annual Accumulated Book Period Book Value Rate Depreciation Depreciation Value Year 1 $ 255,400 40% $ 102, 160 $ 102, 160 $ 153,240 Year 2 153,240 40% 61,296 163,456 91,944 Year 3 91,944 40% 36,778 200,234 55, 167 Year 4 55, 167 40% 9,867 45,300 Year 5 45,300 40% OV 222,301 X 45,300 Total $ 210, 101