Comparing Three Depreciation Methods Dexter Industries purchased packaging equipment on January 8 for $218,000. The equipment was expected to have a useful life of four years, or 8,000 operating hours, and a residual value of $18,000. The equipment was used for 2,800 hours during Year 1, 1,680 hours in Year 2, 2,240 hours in Year 3, and 1,280 hours in Year 4. Required: 1. Determine the amount of depreciation expense for the four 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 four years by each method. Round the answer for each year to the nearest whole dollar. Depreciation Expense Year Straight-Line Method Year 1 50,000 Units-of-Activity Method 70,000 Double-Declining- Balance Method Year 2 50,000 42,000 Year 3 50,000 56,000 Year 4 $ 50,000 $ 32,000 Total $ 200,000 $ 200,000 $ 200,000