Comparing Three Depreciation Methods Dexter Industries purchased packaging equipment on January 8 for $215,400. The equipment was expected to have a useful life of three years, or 7,600 operating hours, and a residual value of $17,800. The equipment was used for 2,900 hours during Year 1, 2,400 hours in Year 2, and 1,400 hours in Year 3. Required: 1. Determine the amount of depreciation expense for the three years ending December 31, Year 1, Year 2, Year 3, by (a) the straight-line method, (b) the units-of-activity method, and (c) the double-declining-balance method. Also determine the total depreciation expense for the three years by each method. Note: FOR DECLINING BALANCE ONLY, round the multiplier to four decimal places. Then round the answer for each year to the nearest whole dollar Depreciation Expense Year Straight-Line Method Units-of-Activity Method Double-Declining-Balance Method 75,400 62,400 36,400 174,200 65,867X Year 1 Year 2 Year 3 Total 2. What method yields the highest depreciation expense for Year 1? 143,600x 47,867X 15,956X