On January 1, Year 1 a company buys some equipment that has a 6 year life, at a cost of $40,000, and a salvage value of $4,000. Compute the following: Straight line depreciation for year l Sum of the year digits depreciation in Year 1 Double declining balance depreciation in Year 1 Double declining balance depreciation in Year 2Show transcribed image text On January 1, Year 1 a company buys some equipment that has a 6 year life, at a cost of $40,000, and a salvage value of $4,000. Compute the following: Straight line depreciation for year l Sum of the year digits depreciation in Year 1 Double declining balance depreciation in Year 1 Double declining balance depreciation in Year 2
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