Sage Company acquire a plant asset at the beginning of year 1. The asset has and estimated service life of 5 years. An employee has prepared depreciation schedules for this asset using three different methods to compare the results of using one method with the results of using other methods. You are to assume that the following schedules have been correctly prepared for this asset using (1) the straight-line method, (2) the sum of the years'-digits method, and (3) the double-declining- balance method.

Year Straight-Line Sum-of-the years-Digits Double_Declining Balance

1 $13,500 $22,500 $30,000

2 $13,500 18,000 18,000

3 $13,500 13,500 10,800

4 $13,500 9,000 6,400

5 13,500 4,500 2,220

Total $67,500 $ 67,500 $ 67,500

Answer the following questions

What is the cost of the asset being depreciated?

Cost of asset $________________________________________________