Swifty Company purchases equipment on January 1, Year, 1 , at a cost of $486,000. The asset is expected to have a service life of 12 years and a salvage value of $43,740. (a) Your answer is correct. Compute the amount of depreciation for each of Years 1 through 3 using the straight-line depreciation method. (Round answers to Odecimal places, es. 5,125.) Depreciation for Year 1 Depreciation for Year 2 \$ Depreciation for Year 3 Compute the amount of depreciation for each of Years 1 through 3 using the double-declining-balance method. (Round depreciation rate to 2 decimal places, es. 15.84\% and final answers to 0 decimal places, eg. 45,892.) Depreciation for Year 1 Depreciation for Year 2 Depreciation for Year 3 Attempts: 0 of 3 used