Comparing Three Depreciation Methods Dexter industries purchased packaging equipment on January 8 for $294,400. The equipment was expected to have a useful life of three years, or 6,000 operating hours, and a residual value of $24,400. The equipment was used for 2,400 hours during Year 1,1,860 hours in Year 2 , and 1,740 hours in Year 3. Required: 1. Determine the amount of depreciation expense for the three years ending December 31 , Year 1 , Year 2 , Year 3 , by (a) the straight-ilie method, (b) the units-of-activity method, and (c) the double-declining-balance method. Aiso determine the total depreciation expense for the three years by each method. Note: For all methods, round the answer for each year to the nearest whole dollar. 3. What method yields the most debreciakion over the three -year life of the equipment