Sheridan Company purchases equipment on January 1, Year 1, at a cost of $510,000. The asset is expected to have a service life of 12 years and a salvage value of $45,900.

(a)

Compute the amount of depreciation for each of Years 1 through 3 using the straight-line depreciation method. (Round answers to 0 decimal places, e.g. 5,125.)

Depreciation for Year 1		$enter a dollar amount rounded to 0 decimal places
Depreciation for Year 2		$enter a dollar amount rounded to 0 decimal places
Depreciation for Year 3		$enter a dollar amount rounded to 0 decimal places

b.) Compute the amount of depreciation for each of Years 1 through 3 using the sum of years depreciation method

c.) Compute the amount of depreciation for each of Years 1 through 3 using the double-declining depreciation method