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Swifty Company purchases equipment on January 1, Year 1 , at a cost of $486,000....

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Accounting

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Swifty Company purchases equipment on January 1, Year 1 , at a cost of $486,000. The asset is expected to have a service life of 12 years and a salvage value of $43,740. (a) Your answer is correct. Compute the amount of depreciation for each of Years 1 through 3 using the straight-line depreciation method. (Round answers to 0 decimal places, e.g. 5,125.) Depreciation for Year 1$ 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$

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