Sheffield Company purchased a new plant asset on April 1, 2020, at a cost of $ 762,000. It was estimated to have a service life of 20 years and a salvage value of $ 64,800. Sheffield' accounting period is the calendar year. (a) Your answer is correct. Compute the depreciation for this asset for 2020 and 2021 using the sum-of-the-years'-digits method. (Round answers to decimal places, e.g. 45,892.) Depreciation for 2020 $ $ 49800 Depreciation for 2021 $ 63910 e Textbook and Media Attempts: 1 of 3 used (b) Compute the depreciation for this asset for 2020 and 2021 using the double-declining-balance method. (Round answers to o decimal places, e.g. 45,892.) Depreciation for 2020 $ Depreciation for 2021 $