4 points LA Amwaj Indstrial Co. purchased an equipment for $720,000 on 1 Jan. 2020. It is estimated that the equipment will have a 10-year useful life or 350,000 units over its usefu life and its salvage value at the end of useful life is estimated as $20,000 Required: Compute the depreciation expense for the year ended December 31, 2020, using the following methods of depreciation. (Please SHOW YOUR CALCULATIONS) 1. Straight-line method of depreciation. 2. Units-of-production method of depreciation assuming that the company produced 42,000 units in 2020. 3. Double-declining-balance method of depreciation