On January $2,2021,$ the Jackson Company purchased equipment to be used in its manufacturing process. The equipment has an estimated life of eight years and an estimated residual value of $$40,375.$ The expenditures made to acquire the asset were as follows:

Purchase price $ $187,000$

Freight charges $4,400$

Installation charges $7,000$

Jackson$$s policy is to use the double$-$declining$-$balance $($DDB$)$ method of depreciation in the early years of the equipment$$s life and then switch to straight line halfway through the equipment$$s life.

Required:

$1.$ Calculate depreciation for each year of the asset$$s eight$-$year life.

$2.$ Are changes in depreciation methods accounted for retrospectively or prospectively?Are changes in depreciation methods accounted for retrospectively or prospectively?

Depreciation methods accounted