Air Pack Company purchased packaging equipment on Jan 3, 2006 for 90000. The equipment was expected to have a useful life of three years, or 21000 operating hours and a residual value of 6000. The equipment was used for 8000 hours during 2006, 7500 hours in 2007, and 5500 hours in 2008. Instructions: Determine the amount of depreciation for the years ended Dec 31 2006, 2007, 2008, byt a. the straight line method b. the units-of-production method c. the double-declining0balance method. Also determine the total depreciation expense for the three years by each method. The following columnar heading are suggested for recording the depreciation expense amounts: Year Straight line method Units of production method Double declining balance method