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

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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 vatue of $43,740. (a) Youranswer is correct. Compute the amount of depreciation for each of Years 1 through 3 using the straight-line depreciation method. (Round answers to O decimal places, es. 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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