Comparing Three Depreciation Methods Dexter Industries purchased packaging equipment on January 8 for $274,600. The equipment was expected to have a useful life of three years, or 6,300 operating hours, and a residual value of $22,600. The equipment was used for 2,520 hours during Year 1,1,953 hours in Year 2 , and 1,827 hours in Year 3. Required: 1. Determine the amount of depredation 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 all methods, round the answer for each year to the nearest whole dollar. 3. What method vields the most depreclation over the three-year life of the equipment? On December 31 , it was estimated that goodwill of $57,500 was impaired. In addition, a patent with an estimated useful economic life of 12 years was acquired for $115,200 on April 1 . a. Joumalize the adjusting entry on December 31 for the impaired goodwill. Dec. 31 Fesdosen Tchack meres b. Journalize the adjusting entry on December 31 for the amortization of the patent rights. Do not round intermediate calculations. Dec. 31