5 To demonstrate the computations involved in several methods of depreciating a fixed asset, the following data are used for equipment purchased on January 1, 2020. Cost and residual value Estimated service life: Acquisition cost $11,250 Years Residual value $450 Service hours 9,000 Productive output (units) 21,600 Required Compute annual depreciation using each of the following methods. a. Straight-line depreciation: Compute the depreciation rate and amount for each year. Depreciation Rate 0 x 2020 2021 2022 2023 2024 Depreciation Expense $ 0 x $ 0 x $ 0 x $ 0 x $ 0X b. Units-of-production method using service hours as a measure of input: Compute the depreciation rate and amount of depreciation expense for the first year assuming 1,980 service hours of actual operation. Depreciation Rate 0 x 2020 Depreciation Expense 0 X c. Units-of-production method using units produced as a measure of output: Compute the depreciation rate and amount of depreciation expense for the first year assuming 3,600 units of output. Depreciation Rate 0 x 2020 Depreciation Expense $ OX d. Sum-of-the-years'-digits method: Compute the depreciation amount for each year. 2020 2021 2022 2023 2024 $ 0 x $ 0 x $ 0 x $ 0 x $ 0 x e. Double-declining-balance method: Compute the depreciation amount for each year. 2020 2021 2022 2023 2024 $ 0 x $ 0 x $ 0 X $ 0 x $ 0 X Check