Vaughn Company purchases equipment on January 1, Year 1, at a cost of $558000. The asset is expected to have a service life of 12 years and a salvage value of $50,220.

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Vaughn Company purchases equipment on January 1, Year 1. at a cost of $558,000. The asset is expected to have a service life of 12 years and a salvage value of $50,220. Compute the amount of depreciation for each of Years 1 through 3 using the straight-line depreciation method. (Round answers to O decimal places, eg. 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 sum-of-the-years-digits method. Depreciation for Year 1 $ Depreciation for Year 2 $ Depreciation for Year 3 $ (c) 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, eg. 15.84%. Round answers to decimal places, eg. 45,892.) Depreciation for Year 1 $ Depreciation for Year 2 $ Depreciation for Year 3 $