Comparing Three Depreciation Methods Dexter Industries purchased packaging equipment on January 8 for $787,400. The equipment was expected to have a useful hife of four years, or 8,400 operating hours, and a residual valse of $65,000. The equlpment was used for 2,940 hours during Year 1, 1,764 hours in Year 2, 2,352 hours in Year 3 , and 1,344 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 unitr-of-activity method, and (c) the doubie-declining-balance method. Also determine the total depreciation expense for the four years by cach method. Round the answer for each year to the nearest whole dollar. a. Wras mecnoo yieds the highest depreciation expense for Year 1 ? 3. What method vieids the most depreciation over the four-year life of the equipment