Comparing three depreciation methods Dexter Industries purchased packaging equipment on January 8 for $112,500. The equipment was expected to have a useful life of three years, or 22,500 operating hours, and a residual value of $4,500. The equipment was used for 9,000 hours during Year 1. 6,750 hours in Year 2 and 6.750 hours in Year), 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. Round the final answers for each year to the nearest whole dollar. Depreciation Expense Straight-Line Method Units-of-Activity Method Double-Declining-Balance Method Year 1 Year Year 2 Year 3 Total 2. What method yields the highest depreciation expense for Year 17 3. What method yields the most depreciation over the three year life of the equipment