View Policies Current Attempt in Progress Wildhorse Company acquires equipment at a cost of $38,500 on January 3, 2021. Management estimates the equipment will have a residual value of $5,500 at the end of its 4-year useful life. Assume that the company uses the diminishing-balance method and that the diminishing-balance depreciation rate is double the straight-line rate. Calculate the depreciation expense for each year of the equipment's life. (Do not leave any answer field blank. Enter O for amounts.) Depreciation - 2021 $ Depreciation - 2022 $ Depreciation - 2023 $ Depreciation - 2024 $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer