8:44 Mountain View Resorts purchased equipment at the beginning of 2024 for $40,000. Residual value at the end of an estimated four- year service life is expected to be $8,000. The machine operated for 2,200 hours in the first year and the company expects the machine to operate for a total of 10,000 hours over its four-year life. Required: Calculate depreciation expense for 2024, using each of the following depreciation methods: 1. Straight-line 2. Double-declining-balance 3. Activity-based (For all requirements, round your intermediate calculations to 2 decimal places.) 1. Straight-line 2. Double-declining-balance 3. Activity-based Depreciation Expense

Mountain View Resorts purchased equipment at the beginning of 2024 for $40,000. Residual value at the end of an estimated fouryear service life is expected to be $8,000. The machine operated for 2,200 hours in the first year and the company expects the machine to operate for a total of 10,000 hours over its four-year life. Required: Calculate depreciation expense for 2024 , using each of the following depreciation methods: 1. Straight-line 2. Double-declining-balance 3. Activity-based (For all requirements, round your intermediate calculations to 2 decimal places.)