1. On March 31, 2024, Canseco Plumbing Fixtures purchased equipment for $66,000. Residual value at the end of an estimated four-year service life is expected to be $6,000. The company expects the equipment to operate for 15,000 hours. The equipment operated for 4,000 and 4,800 hours in 2024 and 2025, respectively.

Required:

Calculate depreciation expense for 2024 and 2025 using straight-line method.

Calculate depreciation expense for 2024 and 2025 using double-declining-balance method.

Calculate depreciation expense for 2024 and 2025 using units-of-production using hours operated.