Computing Partial Period Depreciation under Multiple Depreciation Methods To demonstrate the computations involved in several methods of depreciating a fixed asset, the following information is provided. 5 Cost and residual value Estimated service life Acquisition cost $37,500 Years Residual value $1,500 Service hours 30,000 Productive output (units) 72,000 Required Compute the annual depreciation using each of the following methods assuming that the asset was purchased on August 1, 2020. e. Double-declining-balance method: Compute the depreciation amount for each year. 2020 2021 2022 2023 2024 2025 $ 13,542 * $ 13,542 * $ 0 x $ 0 x $ 0 x $ 0 x