CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 11-2 Grouper Company acquired a plant asset at the beginning of Year 1. The asset has an estimated service life of 5 years. An employee has prepared depreciation schedules for this asset using three different methods to compare the results of using one method with the results of using other methods. You are to assume that the following schedules have been correctly pre for this asset using (1) the straight-line method, (2) the sum-of-the-years- digits method, and (3) the double-declining-balance method Sum-of-the Double-Decdining Year Straight-Line Years'-Digits Balance $12,780 12,780 12,780 12,780 12,780 $63,900 $21,300 17,040 12,780 8,520 4,260 $63,900 $28,400 17,040 10,224 6,134 2,102 $63,900 2 3 4 Total Answer the following questions. What is the cost of the asset being depreciated? Cost of asset What amount, if any, was used in the depreciation calculations for the salvage value for this asset? Salvage value s Version 4.24.2.4 1059 AM Inc. All Rights Reserved. A Division of acy Policy1 2000-2017 1ohn W