Comparing Three Depreciation Methods Dexter Industries purchased packaging equipment on January 8 for $416,000. The equipment was expected to have a useful life of four years, or 7,200 operating hours, and a residual value of $34,400. The equipment was used for 2,520 hours during Year 1, 1,512 hours in Year 2, 2,016 hours in Year 3, and 1,152 hours in Year 4. Required: 1. Determine the amount of depreciation expense for the four years ending December 31 by (a) the straight-line method, (b) the units-of- activityr method, and (c) the double-declining-balance method. Also determine the total depreciation expense for the four years by each method. Round the answer for each year to the nearest whole dollar. Depreciation Expense bl - St ' ht L' units-of- DDT 'e Year raft\" 'd'"e Activity :l' "m9- Method an\" Method Year 1 35:] 3': E$':] 2 s: 1:: .E $: $: 4;: Year4 $1:] 4: '4: Total 34:] ii: 34: 2. What method yields the highest depreciation expense for Year 1? 3. What method yields the most depreciation over the four-year life of the equipment