Comparing Three Depreciation Methods Dexter Industries purchased packaging equipment on January 8 for $283,800. The equipment was expected to have a useful life of four years, or 8,400 operating hours, and a residual value of $23,400. The equipment 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