Testbank Problem 134 On July 2, 2020, Pronghors Company purchased for $5,400,000 snow-making equipment having an estimated useful life of 5 years with an estimated salvage value of $225,000: Depreciation is taken for the portion of the year the asset is used Complete the form below by determining the depreciation expense and year-end book values for 2020 and 2021 using the 1. sum of the year-digits method. 2. double-declining balance method Sum of the Years Digits Method Equipment Less Accumulated Depreciation Year-End Book Value Depreciation Expense for the Year Double Dedining Balance Method Equipment Less: Accumulated Depreciation Year-End Book Value Depreciation Expense for the Year 2020 2021 $5,400,000 $5,400,000 $5,400,000 $5,400,000 Assume the company had used straight-bne deprecation during 2020 and 2021 During 2022, the company determined that the equipment would be useful to the company for only one more year beyond 2022, Salvage value is estimated at $300,000. Compute the amount of depreciation expense for the 2022 income statement Depreciation expense s Assume the company had used straight-ane depreciation during 2020 and 2021. During 2022, the company determined that the equipment would be useful to the company for only one more year beyond 2022 Salve value is estimated at $300,000 What is the depreciation base of this asset Depreciation base Click it