Windsor Company acquired a plant asset at the beginning of Year 1. The asset has an estimated service life of 5 years. An employee has prepared depreciation schedules for this asset using three different methods to compare the results of using one method with the results of using other methods. You are to assume that the following schedules have been correctly prepared for this asset using (1) the straight-line method, (2) the sum-of-the-years'-digits method, and (3) the double-declining-balance method. Double-Declining- Balance Year 1 Sum-of-the- Years'-Digits $17,400 13,920 10,440 2 Straight-Line $10,440 10,440 10,440 10,440 10,440 $52,200 $23,200 13.920 8.352 3 4 6,960 3,480 5 Total 5,011 1,717 $52,200 $52,200 Answer the following questions. What is the cost of the asset being depreciated? Cost of asset $ What amount, if any, was used in the depreciation calculations for the salvage value for this asset? Salvage value $ Which method will produce the highest charge to income in Year 1? The method that produces the highest charge to income in Year 1 is Which method will produce the highest charge to income in Year 4? The method that produces the highest charge to income in Year 4 is