Straight-Line, Declining-Balance, and Sum-of-the-Years Digits Methods light truck is purchased on January 1 at a cost of $36,720.It is expected to serve for eight years and have a salvage value of $4,080. Calculate the or the first and third years of the truck's lite using the following methods. If required, round your answers to the nearest cent Depreciation Expense Year 1 Year 3 . Straight-line 2. Double-declining-balance 3. Sum-of-the-years'-digits Straight-Line, Declining-Balance, and Sum-of-the-Years-Digits Methods A light truck is purchased on January 1 at a cost of $19,675. It is expected to serve for five years and have a salvage value of $1,375. Calculate the depreciation expense for the first and third years of the truck's life using the following methods: If required, round your answers to the nearest cent. Depreciation Expense Year 1 Year 3 1. Straight-ine 2. Double-declining-balance 3. Sum-of-the-years digits