1) Deluxe Ezra Company purchases equipment on January 1, Year 1, at a cost of $1,050,560. The asset is expected to have a service life of 12 years and a salvage value of $89,600.
a) Compute the amount of depreciation for Years 1 through 3 using the straight-line depreciation method. (Round answer to 0 decimal places, e.g. $45,892.)
b) Compute the amount of depreciation for each of Years 1 through 3 using the sum-of-the-years'-digits method. (Round answers to 0 decimal places, e.g. $45,892.)
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, e.g. 15.84%. Round answers to 0 decimal places, e.g. 45,892.)