Comparing three depreciation methods Dexter Industries purchased packaging equipment on January 8 for $57,600. The equipment was expected to have a useful life of three years, or 14,400 operating and a residual value of $3,600. The equipment was used for 5,760 hours during Year 1, 4,320 hours in Year 2, and 4,320 hours in Year 3. 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 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 whole dollar. Depreciation Expense Year Straight-Line Method Units-of-Activity Method Double-Declining-Balance Method Year 1 $ 18,000 $ 21,600 12,799 X Year 2 $ 18,000 $ 16,200 $ 12,799 X Year 3 $ 18,000 $ 16,200 $ 2,799 X Total $ 54,000 $ 54,000 $ 54,000 2. What method yields the highest depreciation expense for Year 1? Double-declining-balance method 3. What method yields the most depreciation over the three-year life of the equipment? All three depreciation methods