Required information [The following information applies to the questions displayed below.) Tory Enterprises pays $244,400 for equipment that will last five years and have a $44,200 salvage value. By using the equipment in its operations for five years, the company expects to earn $89,100 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. Complete this question by entering your answers in the tabs below. Depreciation Schedule Income Computation Calculate annual depreciation expenses using double-declining-balance method. (Round Annual Depreciation t whole dollar.) End of Period Year Accumulated Depreciation Book Value Depreciation for the Period Beginning of Depreciation Annual Period Book Rate Value Depreciation $ 244,400 40% 40% Year 1 Year 2 Year 3 40% Year 4 40% Year 5 40% Total $ 0