On january 2, 2018, 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 $30,625. the expenditures made to acquire the asset were as follows: purchase price $ 154,000freight charges 2,000installation charges 4,000jackson’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.