On January 2,2016,the Hanover Company purchased some office equipment for $20,000.The equipment is expected to have a useful life of five years and a salvage value of $2,000.Prepare a schedule showing the annual depreciation for each of the first three years of the asset's life under the straight-line method,the double-declining-balance method,and the sum-of-the-years'-digits method.

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The Answer of On January 2,2016,the Hanover Company purchased some office equipment for $20,000.The equipment is expected to have a useful life of five years and a salvage value of $2,000.Prepare a schedule showing the annual depreciation for each of the first three years of the asset's life under the straight-line method,the double-declining-balance method,and the sum-of-the-years'-digits method.

On January 2,2016,the Hanover Company Purchased Some Office Equipment for $20,000.The