Your answer is correct. Which depreciation method should the company use? Straight-line method eTextbook and Media Attempts: 1 of 3 u (c) Using the method chosen above, calculate the depreciation on the equipment for 2021. (Roun answer to O decimal places, e.g. 5,275.) Depreciation for 2021 $ eTextbook and Media: Save for Later Attempts: 0 of 3 used Submit Ans Current Attempt in Progress Cullumber Enterprises purchased equipment on March 15, 2021, for $78,030. The company also pa the following amounts: $540 for freight charges; $212 for insurance while the equipment was in transit; $1,749 for a one-year insurance policy; $1,970 to train employees to use the new equipmen and $2,978 for testing and installation. The company began to use the equipment on April 1. Cullumber has estimated the equipment will have a 10-year useful life with no residual value. It expects to consume the equipment's future economic benefits evenly over the useful life. The company has a December 31 year end. (a) Your answer is correct. Calculate the cost of the equipment. Cost of the equipment 81760