Comparing three depreciation methods Dexter Industries purchased packaging equipment on January 8 for $72,000. The equipment was expected to have a useful ife of 18,000 operating hours, and a residual value of $4,500. The equipment was used for 7,600 hours during Year 1,6,000 hours in Year 2, and 4,400 hours in Year 3. Required: 1. Determine the amount of depreciation expense for the three years ending December 31 , 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: Round the answer for each year to the nearest whole dollar. 2. What method ylelds the highest depreciation expense for Year 1 ? 3. What method yields the most depreciation over the three-year life of the equipment