Comparing Three Depreciation Methods Dexter Industries purchased packaging equipment on January 8 for $419,400. The equipment was expected to have a useful life of four years, or 10,400 operating hours, and a residual value of $34,600. The equipment was used for 3,640 hours during Year 1, 2,184 hours in Year 2, 2,912 hours in Year 3, and 1,664 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 wanswer for each year to the nearest whole dollar. Depreciation Expense Double- Units-of- Straight-Line Year Activity Declining- Method Balance Method Method $fill in the blank $fill in the blank sfill in the blank Year 1 2 3 Sfill in the blank $fill in the blank $fill in the blank Year 2 11 6 $fill in the blank $fill in the blank Year 3 $fill in the blank 71 $fill in the blank 10 $fill in the blank $fill in the blank Year 4 8 $fill in the blank 111 $fill in the blank 121 Sfill in the blank Total 13 141 15 Comparing Three Depreciation Methods Dexter Industries purchased packaging equipment on January 8 for $419,400. The equipment was expected to have a useful life of four years, or 10,400 operating hours, and a residual value of $34,600. The equipment was used for 3,640 hours during Year 1, 2,184 hours in Year 2, 2,912 hours in Year 3, and 1,664 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 Units-of- Double- Straight-Line Year Declining- Activity Method Balance Method Method $fill in the blank $fill in the blank $fill in the blank Year 1 1 21 $fill in the blank $fill in the blank $fill in the blank Year 2 4 51 6 $fill in the blank $fill in the blank $fill in the blank Year 3