Comparing Three Depreciation Methods Dexter Industries purchased packaging equipment on January 8 for $509,200. The equipment was expected to have a useful life of four years, or 6,400 operating hours, and a residual value of $42,000. The equipment was used for 2,240 hours during Year 1, 1,344 hours in Year 2, 1,792 hours in Year 3, and 1,024 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. Year Year 1 Year 2 Year 3 Depreciation Expense Straight-Line Method Units-of-Activity Method Year 4 Total 2. What method yields the highest depreciation expense for Year 1? Double-Declining- Balance Method 3. What method yields the most depreciation over the four-year life of the equipment? F