3. On January 1, Year 1, Hobart Manufacturing Company purchased a drill press at a cost of $36,000. The drill press is expected to last 10 years and have a residual value of $6,000. During its 10-year life, the equipment is expected to produce 500,000 units of product. in Year 1 and Year 2, 25,000 and 84,000 units, respectively, were produced. Compute depreciation for Year 1 and Year 2 and the book value of the drill press at December 31, Year 1 and Year 2, assuming the straight-line method is used. Date Book Value .Compute depreciation for Year 1 and Year 2 and the book value of the drill press at December 31, Year 1 and Year 2, assuming the double-declining.-balance method is used. Date Compute depreciation for Year 1 and Year 2 and the book value of the drill press at December 31, Year 1 and Year 2, assuming the sum-of-the-years'-digits method is used Depreciation Date . Compute depreciatio n for Year 1 and Year 2 and the book value of the drill press at December 31, Year 1 and Year 2, assuming the units-of produc ction method is used. Date